Board Approves 2018 Health Insurance Rates and Plans

Health plans participating in the state group health insurance program will have a 0% premium increase next year, and local government employees who participate in the program will have an overall 3.3% premium increase. That’s good to know, as you consider your choices and plan options during the It’s Your Choice open enrollment period, October 2-27. Many members will need to choose a new plan, due to six plans leaving the program. More IYC 2018>

Highlights    

• Why Active Management Matters
• Board Corner
• WRS Employee Benefits Seminars Set for Fall
• Caution: Some Retirement-Related Choices Cannot Be Changed
• Projections for Effective Rates and Annuity Adjustments

Legislative Update

by Tarna Hunter, Director of Strategic Engagement and Government Relations In June the Joint Committee on Finance took action on ETF’s part of the 2017-2019 executive state budget, a proposal of how the state should manage expenses for the next two years. As modified by the JCF, the budget currently contains a few changes that affect the benefit programs administered by ETF. More Biennial Budget>

SWIB Will Continue to Be Innovative, Agile and Work for WRS

by Michael Williamson, SWIB Executive Director SWIB Executive Director Michael Williamson will retire in late 2017, drawing to a close a 41-year career in public service. Read about how SWIB is an even more innovative, agile and integrated organization than ever before. More SWIB>

Why Active Management Matters

SWIB has long been considered a low-cost pension fund manager that provides solid returns for the WRS. One way the agency manages its costs effectively, provides respectable returns, and helps protect the WRS from another market downturn is through a combination of active and passive management of the trust funds. More Active Management>

Board Corner

Nominations Sought for Technical College Teacher Member Seat Here’s your chance to serve on the Teachers Retirement Board, an important WRS governing board. Any WRS teacher from a participating Wisconsin Technical College is eligible to run for this seat on the Board. The term of office begins May 1, 2018. Nomination packets are due November 1. Check out current Board member R. Thomas Pedersen’s column on why you should serve. More Board Corner>

Why Are You in Public Service?

“Growing up in a large family that farmed, my mom would say, ‘if someone needs your help, you should do what you can to help them.’ I am in public service to be a part of an even larger family devoted to helping others. I take great pride in that.” - Maggie, protective occupation employee and WRS member, Madison, Wis. Why are you in public service? Tell ETF why you are working to serve the public, your community and the people of Wisconsin. Take our survey today!

WRS Employee Benefits Seminars Set for Fall

Attend a WRS employee benefits seminar this fall and come away with a greater understanding of your WRS benefits and how they work. Get your questions answered at these hour-long seminars, offered statewide. More Benefits Seminar>

Caution: Some Retirement-Related Choices Cannot Be Changed

While some benefits-related decisions can be changed any time after you retire, others cannot be changed. Understand what could happen to your annuity when you list a joint survivor and when and who can change the annuity option. More Choices>

SWIB Analyst Honored as Industry 'Rising Star'

Jason Rector, SWIB analyst, has no problem working behind the scenes for WRS members—but that doesn’t mean the work he is doing goes unnoticed. More Analyst Honored>

Changes to Group Life Insurance

 Did you know that recent changes to administrative rules broadened the definition of “dependent” for life insurance purposes? Find out what this means for you and your family. More Life Insurance>

Which Annuity Option Should You Pick?

Your WRS retirement application will list all of the WRS annuity options available to you. No matter which option you select, your annuity is paid to you for your entire life. It may also extend beyond your lifetime (e.g., to cover beneficiaries or fulfill a guaranteed number of payments), depending on which option you select and how long you live. Watch this new eLearning to learn about your options, or check out these helpful resources.

WDC Participants: Schedule Your Retirement Readiness Review

Are you financially prepared for retirement? A Retirement Readiness Review, offered by the Wisconsin Deferred Compensation Program, will help you find out. During this personalized review, you and your local WDC representative will go over your future pension, other sources of retirement income and projected future expenses in order to create a plan to achieve your retirement goals.

To set up a review, visit the WDC website and click on Schedule a Meeting or call the WDC at 877-457-9327. Note: This service is offered to WDC participants only. If you’re interested in opening a WDC account, check with your employer to see if this program is available to you.

Projections for Effective Rates and Annuity Adjustments

Your WRS account is credited annually with the effective rates of interest—Core and Variable (if applicable). These rates are announced in February, after final calendar year investment returns have been determined and an actuarial analysis has been conducted. What can you expect in terms of the rates next year? Check out ETF's projections. More Projections>

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