calculators
forms and publications
news
about etf
frequently asked questions
contact etf
site map
video library
related links
home
top of page
home
members retirees employers governing boards careers at etf
 
Employers

Employer Bulletin

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 reports.

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 Trust Fund.

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 date.

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

 

supporting excellence in Wisconsin public service