All WRS Employers
Vol. 18, No. 12
August 3, 2001
Update on Statement of Benefits, Invoices for
Late Reported Earnings and Variable Trust Fund Participation
Statement of Benefits Mailing Coming Soon
ETF plans to begin mailing the January 1, 2001 annual Statement
of Benefits by mid-October. Statements will be sent to employers
using the distribution options selected by employers earlier this
year. If you wish to update your employees' distribution codes
and/or addresses, ETF must receive your update electronically no
later than August 20, 2001.
To allow for the accurate generation and distribution of Statements,
please make sure that you have reported all employee terminations.
Questions about the Statement of Benefits mailing can
be directed to Dale Ferron at (608) 266-0728.
Invoices Generated for Late Reported Earnings
The injunction prohibiting implementation of 1999 Wisconsin Act
11 has been lifted, as the Wisconsin Supreme Court has found all
provisions of the law constitutional. As a result, the Department
has processed the backlog of late reported earnings received in
calendar year 2000. Employer invoices will be generated and distributed
to employers in mid-August. If you have questions regarding
calendar year 2000 late reported earnings and invoices, please contact
the Employer Communication Center at (608) 264-7900.
Late reported earnings received at ETF in 2001 will be processed
in September 2001 and employer invoices will be generated and distributed
to employers in mid-September. From that point forward, late reported
earnings will be processed, as usual, on a monthly basis.
We want to take this opportunity to extend our sincere appreciation
for your patience and understanding during the Act 11 injunction
to all employers who submitted late reported earnings transaction
Variable Participation Opened to New Elections
The Variable Trust Fund is open to new elections by active employees.
Active WRS- participating employees may elect to have 50% of their
future employee required contributions deposited in the Variable
Employers are responsible for providing the Election to Participate
in the Variable Trust Fund (ET-2356) form to all newly hired
employees who are eligible to participate. New WRS participants
electing variable coverage must submit their variable election form
to ETF within 30 calendar days of the start of their WRS participation
for variable coverage to be effective on their WRS coverage begin
New WRS participants who submit their variable election form to
ETF 31 calendar days or more after the start of their WRS covered
employment will have variable coverage effective on the following
January 1. Likewise, current active WRS participants who submit
a variable election form will have variable coverage effective on
the following January 1. For example, the effective date of variable
coverage will be January 1, 2002, for an employee who begins WRS
participation on September 15, 2001 and submits a variable election
form to ETF on October 20, 2001.
Attached is a notice for your employees providing information on
variable participation. Please post this notice in locations that
are readily accessible to your WRS-covered employees.
For more information about the Variable Trust Fund and the process
for electing to participate in variable, please contact the Employer
Communication Center at (608) 264-7900.
Variable Participation Opened to New Elections Poster