The following information is to help employers prepare for the 2019 reconciliation process. Annual reconciliation is a time-sensitive project. Your assistance is required to ensure that your employees’ Wisconsin Retirement System Annual Statements of Benefits (issued in April) are accurate and complete. It is critical that you are available during annual reconciliation to resolve reporting-related issues in a timely fashion.
- Verify your active employee roster – December 16
- Submit your Annual Report – January 31
- Select your Statement of Benefit Sort Option (if applicable) – February 28
- Submit your Distribution Code/Address Data (CDAD) file (if applicable) – March 6
What is Annual Reconciliation?
Reconciliation is the process by which ETF compares the total earnings reported on your twelve WRS monthly remittance reports to the total earnings detail reported for each employee throughout the calendar year (e.g., terminations, leaves of absence, and the annual report). Additional contributions remitted on the WRS monthly remittance reports are also reconciled to any employee-paid additional and/or employer-paid additional contributions reported for your employees.
How To Prepare
Reviewing the reports available on the ETF Web Applications for Employers WRS Earnings Reports (ongoing) application will make the reconciliation process much more streamlined and less time-consuming. In order to get the most out of the review, we strongly encourage employers to read the instructions as was well as view our recorded webinar, WRS Keeping Reported Information Up-To-Date, as both resources explain how to best use the reports for pre-reconciliation tasks.
Submitting the Annual Report
All employers are required to report their active, WRS-participating employees’ annual earnings and service hours detail electronically and must do so on or before January 31, 2020 .
Employers can submit their annual report either manually via the ETF Web Applications for Employers page's WRS Account Update application (instructions) or by uploading the information via the WRS Transaction Upload application (instructions).
Statement of Benefits Addresses
WRS employers are responsible for distributing the Wisconsin Retirement System Annual Statements of Benefits and Explanation of Statement of Benefits to their active employees. The statements, dated January 1, 2020, will be sent to you following completion of the reconciliation process.
If you would like the employees’ addresses printed on their statements and/or the statements sorted in a specific manner for the purposes of distribution, please read and submit (if necessary) the Statement Sort Option Selection (ET-9061) form and include their addresses and/or distribution codes on your annual report. If including this detail on your annual report is not feasible, you can submit the data via a Distribution Code/Address Data (CDAD) file. CDAD file specifications and submissions instructions and deadlines can be found on the CDAD Specifications for the WRS Statement of Benefits (ET-9060) form.
ETF will be offering interactive annual reconciliation and reporting training via both live and recorded webinar. A separate communication will be sent when these are available. Once announced, you can register for training sessions at ETF’s employer training page.
Chapter 10 of ETF’s WRS Administration Manual (ET-1127) describes all things related to annual reconciliation, and ETF’s annual reporting web page has a series of links dedicated to the process. Also, please feel free to call the Employer Communication Center at 1-877-533-5020 for assistance.