WRS News Online - Jan 2024 Edition

A UC Berkeley study found that Wisconsin retirees with pension income are less likely to experience economic hardships, with public pensions significantly narrowing the racial, gender, and education wealth gap among older families compared to private pensions.

Based on positive preliminary figures of 2023 investment performance, ETF projects that employees’ effective rates of interest will increase for both Core and Variable Funds this year.

A recent report by The Pew Charitable Trusts identified key WRS practices that make the Badger State one of the “well-funded states with tools to manage risk,” highlighting how other states could learn from the Wisconsin experience.

It seemed like a normal Friday evening in May. It was a nice way to end a long week. Never would I have thought that during the night things would go from enjoyable to scary.

"It ain’t over till it’s over." That was certainly true for 2023. Just when it looked like many of the same issues that investors faced in 2022 would hold down returns, 2023 finished strong.

ETF Budget and Management Director Tarna Hunter summarizes several Wisconsin Legislature proposals that, if passed, will affect rehired teacher and protective service annuitants. Other bills are also being monitored by ETF.

Approximately $7 billion in benefits were paid by the WRS in 2022, based on the Annual Comprehensive Financial Report recently released by ETF.

It might seem counterintuitive, but registering your WDC account online can reduce the chance that cybercriminals will be able to gain access to it. Take proactive steps to protect your account.

Effective Jan. 1, 2024, administrative fees paid by participants of the Wisconsin Deferred Compensation Program (WDC) will decrease by an average of 40% as recently approved by the Deferred Compensation Board.

A staff from the Madison Area Technical College joins the ETF Board, while a Sheboygan County Board of Supervisor becomes the newest member of the Wisconsin Retirement Board. The Teachers Retirement Board also welcomes new members.

Faster WDC Contribution Amount Changes; Revised Contribution Limits in 2024; Domestic Relations Order Processing Fee; and more.

This includes all 2023 Health Care Flexible Spending Account (FSA), Limited Purpose FSA, Dependent Day Care Account, Parking Account, and Transit Account claims. Any 2023 pending claims requiring documentation or receipts must also be resolved by March 31, 2024.