ETF Releases Revised Income Continuation Insurance (ICI) Booklet
February 5, 2010
Employee Trust Funds has released the latest edition of the Income Continuation Insurance (ICI) Booklet. The plan, available to all UW employees who enroll and have completed six months of service under the Wisconsin Retirement System (WRS), provides up to 75% of the higher of an employees' previous calendar year earnings, as reported to WRS or a projected salary due to a change in an employees' rate of pay prior to a disability, in the event an employee become disabled. The plan provides a maximum of $4,000 per month for standard ICI coverage and up to $7,500 per month with supplemental coverage.
New 2010 Premium Rates, effective February 1, are based on employees' 2009 average monthly WRS earnings (total earnings rounded to the next higher thousand and divided by 12) and accumulated sick leave (or elimination period for UW Faculty). Premium categories for UW classified employees are based on the employee's accumulated sick leave hours as of the prior year's last complete payroll period. For 2009, this was pay period 26B (December 6, 2009 through December 19, 2009).
The 2010 ICI premium rate charts can be found at: Insurance Premium Pages
Related Link: ETF Income Continuation Insurance (ICI) Page
Source: Employee Trust Funds and UW Service Center
Categories: Income Continuation Insurance (ICI)