WRS News Online - May 2020 Edition

Take advantage of the many well-being resources on the StayWell wellness portal to help keep your immune system strong. Visit with a health coach, get healthy recipes, access free online home workouts, and more.

The uncertainty of COVID-19 has had a major impact on global financial markets. The State of Wisconsin Investment Board is continuing to monitor, analyze, and respond to market conditions. Here is a status update.

On April 15, 2020, Gov. Evers signed 2019 Wisconsin Act 185 into law. The law contained a wide range of provisions for dealing with the enormous impact of COVID-19 on our state and citizens. Here is a review of the provisions that pertain to WRS retirement and health benefits.

Your statement is a once-a-year summary of your retirement account information. It’s also one of your most important financial planning tools! Here are some essential things to know and do once you get your statement.

Most state employees have received their January 1, 2020 Wisconsin Retirement System annual Statement of Benefits. But there has been a delay for local government employees. Local government employees include those of cities, townships, villages, school districts, or technical colleges.

Here’s an update from the Wisconsin Deferred Compensation Program, including reminders about personal investing and market turmoil, enhanced security of online services, appointments with local plan reps, and more.

Your deposits – called additional contributions – are invested in the WRS trust funds and earn the effective rate of interest each year. There are also other ways to increase your retirement income.

If retirement is beginning to appear on your horizon, then make Preparing for Your Retirement a priority. Topics covered include how to enhance benefits while still working, how to retire, when to retire, return-to-work rules, and much more.

The only way to access your WRS retirement account before reaching minimum retirement age is to close your account and take a separation benefit. But carefully consider the consequences—you would be forfeiting employer paid contributions, interest, and creditable service.

Check out ETF webinars in high demand at this time of year for WRS employees. All webinars are live, presented by an ETF benefits specialist, and include time for Q&As at the end of the session.

Our online calculators and tools come in very handy when you want to do things like request a benefit estimate, calculate the cost of choosing an Accelerated Payment annuity option, and much more.

Find out when the next scheduled meetings are set for the Group Insurance Board, the WRS retirement boards (ETF Board, Teachers Retirement Board, and Wisconsin Retirement Board), the Deferred Compensation Board, and the SWIB Board of Trustees.