HR Connect

ETF is offering a series of 30-minute, live, interactive webinars designed to increase your understanding of Wisconsin Retirement System benefits. Individuals can also ask questions at the end of these sessions.

Annuity Options: This webinar will help to increase your understanding of the WRS annuity options available to you at retirement. We will also explain the difference between a beneficiary and a named survivor.

• Wed, Mar 15, 2017 11:30 a.m. – 12:00 p.m.
• Mon, Mar 20, 2017 12:00 p.m. – 12:30 p.m.
• Thu, Mar 30, 2017 6:00 p.m. – 6:30 p.m.

Newly Retired? What to Expect: The Newly Retired Webinar provides basic information for Wisconsin Retirement System members who have recently entered or are soon to enter retirement status. Topics include initial (“estimated”) retirement annuity payments, “finalized” payments and adjustments, post-retirement life and health insurance, and return to work rules under the WRS.

• Mon, Mar 13, 2017 6:00 p.m. – 6:30 p.m.
• Thu, Mar 16, 2017 12:30 p.m. – 1:00 p.m.
• Tue, Mar 21, 2017 11:30 a.m. – 12:00 p.m.

WRS Retirement Benefit Calculation Methods: This webinar will explain the methods used for benefit calculations and the components of each method. Anyone who has requested or is planning to request an estimate will have a better understanding of how that amount was calculated.

• Tue, Mar 14, 2017 6:00 p.m. – 6:30 p.m.
• Thu, Mar 23, 2017 11:30 a.m. – 12:00 p.m.
• Tue, Mar 28, 2017 12:00 p.m. – 12:30 p.m.

WRS Benefits: For New and Mid-Career Employees: This one-hour webinar is for employees who are five years – or more – from retirement. The information presented will help you make sound, strategic decisions over the course of your career. Topics include vesting, ways to enhance a WRS retirement benefit, purchasing service, military service credit, the Core and Variable Trust Funds, contribution rates, the importance of a beneficiary form and how to complete one, and how “life event” changes affect retirement benefits.

• Tue, Mar 14, 2017 11:00 a.m. – 12:00 p.m.
• Wed, Mar 22, 2017 12:00 p.m. – 1:00 p.m.
• Wed, Mar 22, 2017 6:00 p.m. – 7:00 p.m.

WRS Annuity Adjustments and Effective Rates: Do WRS accounts receive an investment return? Do investment returns affect how much a retiree will initially receive when they begin their pension? Do those retired in the WRS receive adjustments to their monthly pension amount over the years? This webinar will cover the process of how account effective rates and annuity adjustments are calculated, starting with the investment return reported by the State of Wisconsin Investment Board. Also covered during the webinar will be explanations of both the Core and Variable Trust Funds and the calculations specific to each fund for effective rates and annual adjustments. At the end of this webinar, it is hoped that you will have a better grasp on how State of Wisconsin Investment Board investment returns affect your WRS pension.

• Tue, Mar 14, 2017 12:30 p.m. – 1:00 p.m.
• Thu, Mar 16, 2017 11:00 a.m. – 11:30 a.m.
• Wed, Mar 29, 2017 11:30 a.m. – 12:00 p.m.

Register for a Webinar

Please contact Human Resources at (920) 465-2390 or payrollandbenefits@uwgb.edu with any quesitons.

If you are an academic (9-month) employee and will be returning to UW employment in the fall of 2017, or you are an academic (9-month) employee with a summer appointment, you will have additional insurance premiums deducted from your March 31, May 1 and/or June 1 paychecks to continue your insurance coverage through the summer months. These additional insurance premiums, taken along with your regular monthly insurance deductions, are referred to as ‘summer prepay deductions.’

You must be expected to return for the fall semester, or you must continue employment in a summer service/summer session appointment to have insurance coverage continue during the summer contract break. Insurance premiums cannot be taken from summer service or summer session appointment earnings. If an employee is working Summer Session(s) or Summer Service, the insurance premium deductions will have to be taken prior to this appointment via summer prepay deductions, or must be paid through direct payment by the employee.

If your anticipated fall 2017 employment status changes after you have already had additional insurance premiums deducted, you may receive refunds for these additional deductions.  If you will be terminating employment, and you will not be returning in the fall, contact the Benefits Office immediately. They will assist you in determining your employment termination date and the date your insurance coverage will end.

If you anticipate that you will experience any other status change; marriage, adoption, divorce, etc., please contact your Benefits office immediately so you are informed about the impacts to your insurance benefits.

IMPORTANT: The chart below illustrates insurance premiums deducted for an employee scheduled to return to UW employment in the fall of 2017, or who has a summer appointment and is then terminating. Most employees will have deductions taken according to the chart below.  Your Benefits office will determine your specific appointment, any summer employment, your fall return date, or your end date, and if your deduction schedule will vary from the schedule below.

2017 Summer Prepay Deduction Schedule

How Summer Prepay Deductions Appear on Your Earnings Statement

Summer prepay deductions will appear as a lump sum amount on earnings statements. All deductions taken pre-tax (most medical-related premiums and a portion of State Group Life premiums) will be added together under the name ‘Prebtx’ and all deductions taken post-tax (most life insurance premiums) will be added together under the name ‘Preatx.’

Regular benefit deductions for the month will continue to be listed under the plan name. These deductions are typically taken on a pre-tax basis. If you have one extra deduction for each plan, there will be a total listed under Prebtx on each earnings statement impacted by the additional deductions. NOTE: ‘Prebtx’ stands for before tax or pre-tax and ‘Preatx’ stands for after tax or post-tax.

IMPORTANT: To verify accuracy, please review your earnings statements to ensure that your insurance deductions are accurate for your situation. If insurance premiums are not collected through the summer prepay deductions process, you will be billed for premiums.  In this case, you must remit timely premium payments to continue your insurance coverage.

If you have questions, please contact the Benefits Office at payrollandbenefits@uwgb.edu.