WRS News Online

WDC Program News

FDIC Bank Option Moved to Johnson Bank
In November the Deferred Compensation Board approved moving the FDIC Bank Option from Nationwide Bank to Johnson Bank. Nationwide Bank exited the banking business and could no longer support the Wisconsin Deferred Compensation Program’s FDIC Bank Option. On December 14, 2018, assets in the FDIC Bank Option were moved from Nationwide Bank to Johnson Bank. Johnson Bank was chosen as the successor bank to Nationwide. FDIC insurance will remain the same. If you have money in the FDIC Bank Option and wish to stay in the fund, no action is required on your part. If you wish to transfer assets to or from the FDIC Bank Option, log in to your WDC account or contact the WDC at 1-877-457-9327.

Changes Coming to Investment Lineup
The WDC will discontinue offering the Federated US Gov’t 2-5 Year Institutional Fund to participants. Participants with assets in this fund will have until November 1, 2019 to redirect contributions to another investment option. May 1, 2020 is the deadline for moving balances from this fund to another investment option. If you would like to transfer assets from the Federated US Gov’t 2-5 Year Institutional Fund, log in to your WDC account or contact the WDC at 1-877-457-9327.