Effective Rates of Interest Projected to Increase in 2024
Based on positive preliminary figures of 2023 investment performance, ETF projects that employees’ effective rates of interest will increase for both Core and Variable Funds this year. Read more >
Strength Through Resilience By John Voelker, ETF Secretary
It seemed like a normal Friday evening in May. It was a nice way to end a long week. Never would I have thought that during the night things would go from enjoyable to scary. Read more >
Trust Funds Weather Volatile Market in 2023 By Edwin Denson, SWIB Executive Director and Chief Investment Officer
“It ain’t over till it’s over.” That was certainly true for 2023. Just when it looked like many of the same issues that investors faced in 2022 would hold down returns, 2023 finished strong. Read more >
A UC Berkeley study found that Wisconsin retirees with pension income are less likely to experience economic hardships, with public pensions significantly narrowing the racial, gender, and education wealth gap among older families compared to private pensions. Read more >
WRS Among Well-Funded Pensions in the U.S. A recent report by The Pew Charitable Trusts identified key WRS practices that make the Badger State one of the “well-funded states with tools to manage risk,” highlighting how other states could learn from the Wisconsin experience. Read more >
ETF Budget and Management Director Tarna Hunter summarizes several Wisconsin Legislature proposals that, if passed, will affect rehired teacher and protective service annuitants. Other bills are also being monitored by ETF. Read more >
Jailers Law Takes Effect in 2024 Unless they opt out, county correctional officers (jailers) categorized as general employees are now classified as protective occupation employees. Read more > | Watch video >
Consolidated Coverage for Income Continuation Insurance (ICI) Starting February 1, 2024, the ICI Program will offer a single coverage level and terminate its separate offerings for standard and supplemental levels. For local employees, the premium holiday currently in effect will continue; when it ends, your full earnings (up to $120,000 per year) will be covered automatically, and no optional supplemental coverage will be available. How about for state employees? Read more >
2023 Pre-Tax Savings Claims Due March 31, 2024 This includes all 2023 Health Care Flexible Spending Account (FSA), Limited Purpose FSA, Dependent Day Care Account, Parking Account, and Transit Account claims. Any 2023 pending claims requiring documentation or receipts must also be resolved by March 31, 2024. Read more >
Earn $150 Incentive with Well Wisconsin 2024
Complete your health assessment, health check, and well-being activity. Learn more about new health coaching programs, mental health resources, condition management services, and upcoming events. Read more > | Watch video >
When Will I Receive My Statement of Benefits? In April 2024, ETF will begin distributing employees’ January 1, 2024 WRS Annual Statement of Benefits, after completion of 2023 account data reconciliation processes. Learn more about your statement >
In-Person Group Retirement Appointments ETF benefits specialists may be in your area to conduct the session accommodating up to 12 members and their guests. Before registering, you must have received a Retirement Benefit Estimates and Application (ET-4301). See locations and schedules >
For K-12 Employees New video tailored for K-12 school district employees preparing for retirement. Watch >
Your Steppingstones to Retirement Recorded webinar on having a secure financial retirement with your Social Security, WRS retirement benefit, and deferred compensation savings accounts. Watch >
Upcoming Live Webinars These live sessions cover how your WRS benefits work, wellness tips, and more. Get answers to your benefits questions. Register >
Overview of Wisconsin Deferred Compensation Program (WDC) A 30-minute live session for new employees wanting to know more about WDC. Register >
Effective January 1, 2024, administrative fees paid by participants of the Wisconsin Deferred Compensation Program (WDC) will decrease by an average of 40% as recently approved by the Deferred Compensation Board. Read more >
WDC News Briefs
As of December 18, 2023, any contribution changes you make to your WDC account will be enacted as soon as administratively feasible after the request is made.
The IRS announced retirement plan contribution changes for tax year 2024.
New processing fee for a Domestic Relations Order due to divorce. Read more >
How to Protect Your WDC Online Account from Cybercrime
It might seem counterintuitive, but registering your WDC account online can reduce the chance that cybercriminals will be able to gain access to it. Take proactive steps to protect your account. Read more >
How are your WRS contributions for the Core Trust Fund invested by SWIB? Compared to 2023, this year’s asset allocation target reduces public equities from 48% to 40%, increases private equity from 15% to 18% and fixed income from 25% to 27%, and reduces the leverage level from 15% to 12%. Changes were largely driven by the somewhat weaker outlook for public equities compared to public fixed income. Read more >
Board of the Year SWIB’s Board of Trustees was honored as Board of the Year at Institutional Investor’s 6th annual Allocators’ Choice Awards, for facilitating SWIB’s ability to implement a flexible investment strategy to keep the WRS Trust Funds positioned for long-term success amidst challenging markets in 2022.
Denson Joins ICPM Board SWIB’s Edwin Denson joins the International Centre for Pension Management (ICPM) board. ICPM focuses on fostering long-term investing, strengthening governance of pension investments, and improving design and governance of pension schemes. It comprises 43 pensions collectively managing over $6 trillion in assets.
The SWIB Podcast Episode 26: SWIB’s Edwin Denson talks about what he and his team experienced in 2023, what to expect in 2024, and how SWIB is working to keep the WRS fully funded. Listen >
Episode 25: SWIB’s Leo Kropywiansky and Mike Shearer share insights on the housing market and what it means for SWIB’s mortgage-backed securities portfolio. Listen >
Notices and Publications
ETF Governing Boards Welcome New Members A staff from the Madison Area Technical College joins the ETF Board, while a Sheboygan County Board of Supervisor becomes the newest member of the Wisconsin Retirement Board. The Teachers Retirement Board also welcomes new members. Read more >
2022 WRS Finances in Good Standing Despite Tough Markets Approximately $7 billion in benefits were paid by the WRS in 2022, based on the Annual Comprehensive Financial Report recently released by ETF. Read more >
Privacy Practices This notice describes how medical information about participants in the State of Wisconsin Group Health Insurance Program may be used and disclosed, and, as a participant, how you can learn more about your privacy rights regarding health and get access to this information. Read more >
Abandoned Accounts ETF is looking for people age 70 and older who have unclaimed money in their WRS account. Contact ETF if you know someone who is on the list. Read more >
WRS Calculators
Request Benefit Estimate