In February the Group Insurance Board approved moving to a self-insured/regionalized program structure for the group health insurance program, starting in 2018. More Health Insurance>
Upcoming Well Wisconsin Expo, Wednesday Webinars
Group health insurance program participants: Come to the Third Annual Well Wisconsin Expo May 10 in Madison! Get a health screening, talk with health plan representatives, find out about health and wellness resources in your community! In addition, check out a webinar that will help you get a great night's sleep! More Well Wisconsin>
“Every day I have the opportunity to make a difference in
the lives of the kids that I am honored to teach. I challenge myself to
consistently keep that idea clearly in focus. If I am successful, I
wholeheartedly believe that I am also helping to make Wisconsin a better place
– one learner, one class, and one ‘aha!’ moment at a time.”
Steve, middle school teacher and WRS member, Ashwaubenon, WI
Why are you in public service?
Tell us why you are working to serve the public, your community and the people
of Wisconsin. Take
our survey today!
SWIB’s Board of Trustees recently approved staff incentive compensation awards in recognition of investment performance that added $42 billion to the WRS trust funds over the past 10 years. I want to take this opportunity to talk with you about those payments and why they are important. More Performance>
Wisconsin has a long history of entrepreneurs who have taken their
ideas and grown them into thriving businesses. Some businesses are
small, while others have grown into multi-billion dollar corporations. SWIB is
proud to have been part of the blueprints of success for many of those
businesses. More Investments in WI>
by Tarna Hunter, Director of Strategic Engagement and Government Relations
In February Gov. Walker relayed the 2017-2019 executive state budget, a proposal of how the state should manage expenses for the next two years. As proposed, the budget currently contains a few changes that affect the benefitprograms administered by ETF. Other legislation includes a proposal that would increase the minimum retirement age by two years for protective occupation members and by five years for all other members, and change the formula method for calculating a WRS retirement benefit. More Legislation>
Have you taken the time to review your WRS annual Statement of Benefits? Keep your statement with
your important paperwork – you receive this only once a year from ETF and it
contains a lot of great information about your benefits! Here are the Top 5 things to know about your statement. More Statement>
ETF has rolled out new
online resources to help you review and understand your WRS annual Statement of Benefits. You'll find an interactive statement with explanations
of content and links, answers to frequently asked questions and much more. Check it out! More Web Resources>
Organizations that offer a defined benefit plan, like the WRS, have a significant advantage in attracting and retaining qualified employees, according to human capital and benefits consultant Willis Towers Watson. More than 620,000 individuals participate in the WRS, as either a current state and local government employee, former employee, retiree or beneficiary. Find out why the WRS is strong for Wisconsin.
Know Your Benefits: Requesting an Estimate
Q: I’m thinking about retiring in the next few years. How do
I find out about my future benefit amount?
A: If you are a year or more from retirement, use our online WRS Retirement Benefits Calculator to run hypothetical projections of your benefit, under both the money purchase and the formula calculation methods. Tip: Have your WRS annual Statement of Benefits handy so you can enter data mirroring your account. If you want to retire within the year, request an official WRS retirement estimate from ETF. We will use your account information to create a customized estimate/application. There are three ways to request an official estimate:
Send an email or write to: ETF, P.O. Box 7931, Madison, WI 53707-7931
WRS fact: In line with national trends, Wisconsin’s government employees are working longer and putting off retirement. The average retirement age for most WRS members (General and Teachers) is 61 and the median annual annuity is $17,957. This annuity only replaces 33.06% of their final average earnings. Consider this: Will you have enough other income, such as Social Security and personal savings, to support your needs in retirement?
Other News & Features
Teachers Retirement Board Election Results
WRS active teacher members elected two colleagues to serve on the Teachers Retirement Board, effective May 1. Find out who they are and learn more about the board, including membership, meeting dates, roles and responsibilities. More Board Election>
ETF Makes Changes to Improve Customer Service
ETF no longer offers walk-in
appointments, due to low demand. Find out how members are using
other convenient and easy ways to access information about their WRS benefits.
More Customer Service>
Members Like Virtual
Appointments!
ETF’s
virtual retirement appointments are growing in popularity. Find out what
these secure, online retirement appointments are all
about, how they work and what members are saying about them. More Virtual Appointments>
ETF Webinars for Employees at All Career Phases
Stay informed about your WRS benefits and how they work for you! Whether you are a new hire, mid-career or nearing retirement, ETF has a live,
interactive webinar applicable to your circumstances. More Webinars>
Effective Rates Applied to Your Account
The effective rates of interest have been applied to WRS active employees’ retirement accounts. Learn how the rates affect you and your WRS account balances. More Effective Rates>
Webinar: Investing in Collective Trust
Funds
Learn everything you need to know about investing in
collective trust funds in this recorded webinar, hosted by BlackRock, manager
of several indexed collective trust fund options in the Wisconsin Deferred
Compensation Program. More Collective Trust Funds>
Innovative Program Helps You Get
Financially Fit
Let ETF help you get financially fit through a unique, free and comprehensive Financial FitnessProgram available to allWRS members. More Financially Fit>
How Is My Retirement
Benefit Calculated?
There are two methods of calculating your WRS
retirement benefit – the formula and money purchase methods. When ETF
calculates your benefit, we will always calculate your benefit by both methods
and pay the higher of the two amounts. More Retirement Benefit>
SWIB: LAB
Completes Management Audit
When
you say “Wisconsin,” what comes to mind? For those of us who have spent our
careers serving the people of this state, it might just be that Wisconsin has
one of the best-funded public pension systems in the country. A recent audit
report by the Legislative Audit Bureau took an in-depth look at the work SWIB
has done in managing the trust funds. We present some key points related to the
audit. More Audit>
WRS Calculators
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