WRS News Online - May 2023 Edition

In February Governor Evers released the 2023-2025 executive state budget, a proposal for how the state should manage expenses for the next two years. The proposed budget contains a few changes that affect the benefit programs administered by ETF.

It's no secret that 2022 was a challenging year for the financial markets. There was nowhere to hide for investors looking to escape the volatility that impacted almost every asset class, including stocks. Susan Schmidt, SWIB’s head of public equities in the Global Public Market Strategies Division, oversees what is sometimes referred to as a “best ideas portfolio,” an important piece of SWIB’s long-term investment strategy.

Find out about the Auto Increase feature for your WDC account; learn how the SECURE 2.0 Act affects your account; read about the Empower security guarantee; and get tips on how to protect yourself, your email, computer, and other devices.

SWIB’s 2023 Investment Forum is set for Tuesday, June 13 and Wednesday, June 14 and you’re invited! The virtual two-day conference, co-sponsored by the CFA Society of Madison, will feature experts sharing insights on a variety of topics.

The federal COVID-19 Public Health Emergency will end on May 11. With it, there will be some changes to what is covered under your health insurance plan. Have you experienced a life change that may affect your health benefits? Find out what you need to know and do.

Find out about available mental health resources, including the National Suicide Prevention Lifeline (now known as the 988 Suicide & Crisis Lifeline) and ETF ‘s new Mental Health Resources webpage.

Group Health Insurance Program members: Well Wisconsin continues to be your go-to resource for well-being support. Learn more about building healthy habits, register for a Smart Goal Workshop, speak with a health coach, and much more!

A common question we receive from members this time of year centers on WRS separation benefits. This type of benefit is a one-time, lump-sum payment of employee-required contributions, additional contributions (if made), and accumulated earned interest. Understand the pros and cons.

Important changes have been made to the state and local Income Continuation Insurance Programs that will expand coverage and benefits to employees aged 70 and older, effective May 1.

What do I need to know about my Group Health Insurance Program benefits before my student goes to college?

Todd Mattina is SWIB’s new Head Economist, Asset & Risk Allocation Chief Investment Officer. Mattina will be responsible for taking a broad view of economic conditions in developing, recommending, and implementing SWIB’s asset allocation for the fully funded WRS.

SWIB Funds Alpha Manager Derek Drummond has been appointed chair of the Standards Board for Alternative Investments North American Committee. The Committee has 10 members, equally split across asset owners and managers, exemplifying their commitment to neutrality.

Learning from the past and preparing for what the future may bring plays a key role in making sure the WRS remains healthy. Learn how SWIB partners with independent actuaries and uses stress testing to help design a successful investment strategy.

The end of tax time is a good time to revisit the Internal Revenue Code limits for 2023 on such things as deferrals to one’s Wisconsin Deferred Compensation Program account, additional contributions to the WRS, etc.

Before scheduling an appointment, you must have received a Retirement Benefit Estimates and Application (ET-4301) or a Disability Benefit Estimate and Application (ET-5302). The typical wait time for appointments is up to six weeks. Group online appointments can often be scheduled sooner.

Find out when the governing boards of the WRS and the SWIB Board of Trustees are scheduled to meet, and how to send correspondence to the boards.