Employer Bulletin
Local ICI Employers
Vol. 19, Local A
January 8, 2002
Ordering ICI Forms, Reporting Deadline and Update on Premiums
Ordering Income Continuation Insurance Forms
Income Continuation Insurance (ICI) booklets, claims packets and
forms are ordered directly from CORE, INC. via e-mail at ICILTDI@COREINC.com
or by calling 1-800-960-0052. An order form is attached to this
Bulletin that can be faxed to CORE, INC. at (310) 348-7126.
ICI Employee Transaction Reports (ET-5901) must arrive
at CORE, INC. 7 Calendar Days Before the Check Date
CORE, INC. must receive the ICI Employee Transaction Reports (ET-5901)
at least seven (7) calendar days prior to the check date. For example,
for checks dated February 12, 2002, CORE must have the ICI Employee
Transaction Report (ET-5901) by February 6, 2002. These reports
may be sent to CORE, INC. via fax at (310) 348-7126, or mailed to
CORE, INC. at PO BOX 451639, Los Angeles, CA 90045.
Update ICI Premiums on March Report
Local Employers offering ICI must update payroll records and calculate
new ICI monthly premiums, which will be effective March 1, 2002.
The premiums are based on calendar year 2001 Wisconsin Retirement
System (WRS) earnings and the elimination period selected by each
employee.
The updated premiums must be reported on your March 2002 Income
Continuation Report (ET-1629), which is due at the Department
of Employee Trust Funds on or before Wednesday, February 20, 2002.
Please write "Annual Review and Update Completed" on
the bottom of your March 2002 report to indicate that you have completed
this process. Use the following instructions to complete your review
of ICI premiums. See also: Subchapter 608 of the Wisconsin Public
Employers ICI Administration Manual (ET-1145).
- Determine each insured employee's WRS earnings for 2001.
If an employee was newly hired or had an interruption in earnings
of three consecutive months or more, the WRS earnings for 12 months
will be an estimate.
- Verify that you are reporting employees by the correct elimination
period.
- Use the guidelines listed in the Wisconsin Public Employers
ICI Administration Manual (ET-1145) to calculate the amount
of the monthly premium for each employee (Chapter 4) and the employer
contribution (Chapter 5). The premium rates in effect are attached
to this Bulletin. Note: The Group Insurance Board approved
a decrease in the premium contribution rates. The rates are reduced
from .375% of payroll to .25% of payroll.
- The resulting total premiums will be the amount paid and reported
beginning February 20, 2002 (for March 2002 coverage) and ending
January 20, 2003 (for February 2003 coverage).
NOTE: When an employee has a permanent change in the percentage
of appointment, such as a change from part-time to full-time employment,
premiums must be adjusted at the time the change occurs.
If an adjustment was not made at the time the change in appointment
occurred, payment of the additional premiums –or refund of overpaid
premiums– should be made from the month of the change to the
end of the calendar year on the report due February 20.
For more information, please contact the Employer Communication
Center at (608) 264-7900.
|
