Distribution of the 2023 WRS Annual Statement of Benefits to all state and local government employees is under way. The personalized statement is a once-a-year summary of WRS retirement account information. It’s also one of your most important financial planning tools. Here are some essential things to know and do as you review your statement.
Group Health Insurance Program members: Well Wisconsin continues to be your go-to resource for well-being support. Learn more about building healthy habits, register for a Smart Goal Workshop, speak with a health coach, and much more! More Building Healthy Habits>
By Tarna Hunter, ETF Government Relations Director
In February Governor Evers released the 2023-2025 executive state budget, a proposal for how the state should manage expenses for the next two years. The proposed budget contains a few changes that affect the benefit programs administered by ETF. More Legislative Update>
It's no secret that 2022 was a challenging year for the financial markets. There was nowhere to hide for investors looking to escape the volatility that impacted almost every asset class, including stocks. Susan Schmidt, SWIB’s head of public equities in the Global Public Market Strategies Division, oversees what is sometimes referred to as a “best ideas portfolio,” an important piece of SWIB’s long-term investment strategy. More Long-Term Success>
WDC Program News
Find out about the Auto Increase feature for your Wisconsin Deferred Compensation Program account; an update on the SECURE 2.0 Act; read about the Empower security guarantee; and get tips on how to protect yourself, your email, computer, and other devices. More WDC News>
Webinars: Estate Planning, Social Security
Take in these upcoming high-quality webinars hosted by the Wisconsin Deferred Compensation Program: Estate Planning, set for May 1 and Social Security, May 5. Register now.
SWIB’s 2023 Investment Forum is set for Tuesday, June 13 and Wednesday, June 14, and you’re invited! The virtual two-day conference, co-sponsored by the CFA Society of Madison, will feature experts sharing insights on a variety of topics. More Investment Forum>
Health Benefits Updates
The federal COVID-19 Public Health Emergency will end on May 11. There will be some changes to what is covered under your health insurance plan. Have you experienced a life change that may affect your health benefits? Find out what you need to know and do. More Health Benefits Updates>
Mental Health Resources Webpage
Find out about available mental health resources, including the National Suicide Prevention Lifeline (now known as the 988 Suicide & Crisis Lifeline) and ETF's new Mental Health Resources webpage. More Resources>
In-Person Group Retirement Appointments Available Statewide
Did you know ETF offers in-person group retirement appointments outside of the Madison area? Our benefits specialists will be traveling the state throughout this spring and summer. Topics covered include the retirement benefit estimate and application, post-retirement health and life insurance, beneficiary designations, WRS and death benefits, and much more. See the schedule and register now.
Considering a Separation Benefit? Consider the Consequences
A common question we receive from members this time of year centers on WRS separation benefits. This type of benefit is a one-time, lump-sum payment of employee-required contributions, additional contributions (if made), and accumulated earned interest. Understand the pros and cons. More Separation Benefit>
Q. What do I need to know about my Group Health Insurance Program benefits before my student goes to college?
A. Sending kids off to college can be stressful, and few parents send their kids off without worrying. Understanding your health insurance coverage is an important part of the planning process. Here is some information you should keep in mind. More Know Your Benefits>
Other News & Features
Todd Mattina Named Head Economist, Asset & Risk Allocation CIO
Todd Mattina is SWIB’s new Head Economist, Asset & Risk Allocation Chief Investment Officer. Mattina will be responsible for taking a broad view of economic conditions in developing, recommending, and implementing SWIB’s asset allocation for the fully funded WRS. More Todd Mattina>
Derek Drummond Named SBAI North American Committee Chair
SWIB Funds Alpha Manager Derek Drummond has been appointed the new chair of the Standards Board for Alternative Investments North American Committee. The committee has 10 members, equally split across asset owners and managers, exemplifying their commitment to neutrality. More Drummond Named Chair>
Income Continuation Insurance Coverage Changes Effective May 1
Important changes have been made to the state and local Income Continuation Insurance Programs that will expand coverage to employees age 70 and older, effective May 1. More ICI Changes>
How SWIB Uses the WRS Actuaries and Stress Testing to Plan for the Future
Learning from the past and preparing for what the future may bring plays a key role in making sure the WRS remains healthy. Learn how SWIB partners with independent actuaries and uses stress testing to help design a successful investment strategy. More WRS Actuaries and Stress Testing>
What are the IRS Limits for 2023?
The end of tax time is a good time to revisit the Internal Revenue Code limits for 2023 on such things as deferrals to one’s Wisconsin Deferred Compensation Program account, additional contributions to the WRS, etc. Bookmark our handy guide, IRS Benefits and Compensation Limits (ET-8873)and use it to plan your retirement savings goals for the year.
Need to Schedule a Retirement Appointment?
Before scheduling an appointment, you must have received a Retirement Benefit Estimates and Application (ET-4301) or a Disability Benefit Estimate and Application (ET-5302). The typical wait time for appointments is up to six weeks. Group online appointments can often be scheduled sooner. More Retirement Appointment>
ETF Announces Annuity Adjustments for WRS Retirees
Instead of a guaranteed cost-of-living adjustment, the WRS provides retired members with annual annuity adjustments based on investment performance of the WRS Trust Funds. See what the adjustments are this year, effective with the May 1 annuity payment. More Annuity Adjustments>
Preparing for Your Retirement Webinar
Planning to retire from WRS employment in the next five years? Take in our webinar, Preparing for Your Retirement, to see what steps to take in order to maximize your WRS benefits. This is our most popular webinar and it’s offered twice a month. See upcoming sessions and register now.
Upcoming Governing Board Meetings
Find out when the governing boards of the WRS and the SWIB Board of Trustees are scheduled to meet, and how to send correspondence to the boards. More Board Meetings>
WRS Calculators
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