The Department of Employee Trust Funds has published new webpages on power of attorney documents and guardianship orders. Both pages provide information and resources on these important personal finance topics and how they pertain to members’ Wisconsin Retirement System benefits.
Financial Power of Attorney
A WRS member can authorize someone to make changes to their account by submitting a financial power of attorney document to ETF. This is a legal document that allows the member (the "principal") to choose a person (the "agent") to act on their behalf. This document can impact one’s WRS account, as well as other finances and property. The new Financial Power of Attorney page centers on how to create, submit, or revoke a power of attorney document; what an agent can do; and has information about statements of incapacity.
Guardianship
A guardian is appointed by a court when a member is unable to make or communicate medical decisions, financial decisions, or both. The new Guardianship page explains ETF’s role in guardianships; how to submit, change, or terminate a guardianship order; and what a guardian can do.