All WRS Employers
Vol. 22, No. 5
April 11, 2005
WRS Annual Statements of Benefits Enclosed
A personalized Wisconsin Retirement System (WRS) annual Statement
of Benefits (dated January 1, 2005) is enclosed for your active
employees with WRS contribution balances as of December 31, 2004.
Please distribute these according to the instructions and guidelines
The Department of Employee Trust Funds (ETF) must verify that
all participants receive a WRS Statement of Benefits. Once you
distribute the statements to your employees, complete the Distribution
Report included with this Bulletin and return it to ETF by May 31,
Changes to the January 1, 2005 Statement of Benefits:
- Participants with past protective service (other than purchased
service) and current or past service in a non-protective service
category are now eligible for a retirement benefit at age 50.
- The Money Purchase Calculation Factors for the current year
have been updated to reflect actuarial experience.
Instructions and Guidelines for Statement Distribution
Employers are responsible for distributing the Statement of Benefits
to their active WRS covered employees. Forwarding statements to
employees via U.S. mail in the provided envelopes is acceptable
only when you change the return address to that of the employer
and attach postage. Without the employer’s return address,
undeliverable statements mailed in ETF’s envelopes are sent
to ETF instead of being returned to the employer for address correction
Be sure to distribute statements to employees on leave of absence.
If a statement is included for an employee who recently terminated
or for whom a termination report has not yet been sent to ETF:
- Change the return address on the envelope to that of the employer
and forward the statement to the participant.
- In the event a termination report has not been sent to ETF,
immediately submit an Employee Transaction Report (ET-2533) including
the employee’s employment termination date, applicable WRS
earnings and hours of service, and last known address. ETF will
update the employee’s WRS account information.
NOTE: Statements for employees working for more than one WRS employer
are sent to the employer with the employee’s most recent WRS
begin date. The program used to run the statements cannot be changed
to accommodate a different mailing sequence.
Statements are not generated for:
- Employees who terminated employment and for whom you have reported
the employment termination to ETF on an Employee Transaction Report
(ET-2533) prior to the statements’ printing date.
- Employees for whom no WRS contributions were reported as of
December 31, 2004. For example, an employee enrolled in WRS late
in December 2004 and first paid wages in January 2005, will not
receive a January 1, 2005 statement because no WRS contributions
were paid in 2004.
Employees Should Carefully Review Statements
The annual Statement of Benefits provides WRS participants the
opportunity to review important WRS account information that will
eventually be used in benefit calculations. Therefore, we ask that
you encourage employees to carefully review their statements and
the enclosed supporting material. Most questions can be answered
by reading this information.
Your employees should contact you for clarification of the WRS
creditable service, earnings, and/or employment category that you
have reported to ETF. It is critical that you immediately correct
any reporting errors. Please refer to Chapter
10 of the WRS Administration Manual (ET-1127) for instructions
and guidance on making prior year account adjustments.
Employer Feedback on Statement of Benefits Format
ETF continually seeks to improve the annual Statement of Benefits
format and we welcome your feedback. Please address all comments
to Dale Ferron, Division of Trust Finance & Employer Services,
P.O. Box 7931, Madison WI 53707-7931. You may also contact him via
Employees having questions after reviewing the information supplied
with the Statements of Benefits and/or after discussing their account
balances with you, may contact ETF’s Member Call Center toll
877-533-5020 or by calling (608) 266-3285 in the Madison area.
Employers with questions should contact ETF’s Employer Communication
Center at (608) 264-7900.
Statement of Benefits Distribution