Understanding COBRA—the Consolidated Omnibus Budget Reconciliation Act—can sometimes be tricky. A new nine-minute training video answers these questions and provides additional information on qualifying events, responsibilities, and timelines.
The Group Insurance Board has approved the Wisconsin Public Employer Group Life Insurance premium rates for local employees. Claims experience has been stable, resulting in no change to local employee premium rates for 2023.
ETF recently hosted its annual open enrollment kickoff meeting virtually for state and local employers for plan year 2022. Recordings of these events are now available.
Based on the improved financial position and strong investment results, the ICI premium rates for 2022 will decrease by 50%. See the premium rate charts in the ICI employer section of the ETF website.
This chart is being provided based on information received by ETF from these employers. Employers and employees should communicate with each other about whether their sick leave may or may not transfer.
ETF has released the Wisconsin Retirement System Annual Comprehensive Financial Report for the year ended December 31, 2021. The WRS paid approximately $6.4 billion in benefits in 2021. The WRS funding ratio calculated in accordance with accounting standards was approximately 106% as of December 31, 2021. Sound funding and plan design principles continue to keep the WRS financially strong.
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.