HR, Payroll and Benefits News

WRS Annual Statement of Benefits Now Available in the MyUW Portal
April 18, 2018

If you were covered by the Wisconsin Retirement System (WRS) in 2017, your WRS Annual Statement of Benefits is now available in the MyUW portal for UW System institutions or for UW-Madison.

Log in to the portal. Go to the Benefit Information module and click on the Statements tab. Choose “2017 ETF Annual Statement of Benefits (WRS) Issued 2018” to view or print your statement. The WRS Annual Statement of Benefits provides you with information about your WRS account as of January 1, 2018.

Understanding Your Statement

Your WRS Annual Statement of Benefits includes your 2017 earnings and service, years of creditable service as of January 1, 2018, retirement benefit projections, separation benefit, death benefit, and primary beneficiary designation(s) for your WRS account.

The Department of Employee Trust Funds (ETF) has many resources available to assist you in understanding your Statement of Benefits. Review and verify each section of your statement using these resources as a guide.

• An introductory letter which highlights important information on the statement.
• The ETF Statement of Benefits web page which provides many resources including an Interactive Sample Statement of Benefits, FAQ for Statement of Benefits and the Explanation of Annual Statement of Benefits.
• Live Webinar: Understanding Your Annual WRS Statement of Benefits - featured topics include WRS contributions, vesting status, years of service, and what happens to your account if you die before taking a benefit. The webinar is offered on the dates below. Registration is required. Have your statement in hand while participating in this webinar.

May 3, 2018, 6:00 p.m. – 6:30 p.m.
May 7, 2018, 11:00 a.m. – 11:30 a.m.
May 18, 2018, 11:30 a.m. – 12:00 p.m.
May 22, 2018, 12:30 p.m. – 1:00 p.m.

Reviewing Your Beneficiaries

It is important to review your WRS account primary beneficiary(ies) on your statement. If you do not have beneficiaries listed on your statement, it may be that you do not have a beneficiary designation on file, or your designation was made before 1998 (beneficiaries added before 1998 are not listed on your statement). It is suggested that if you do not have a beneficiary designation listed on your statement that you complete a Beneficiary Designation Form.

Death benefits are always paid according to the most recent valid beneficiary designation form on file with ETF prior to an individual’s death. Your beneficiary information does not automatically change when a significant life event occurs, such as a divorce or a marriage. You may add, change or remove beneficiaries by completing a Beneficiary Designation form (ET-2320) or Beneficiary Designation-Alternate form (ET-2321). Mail your completed beneficiary designation directly to ETF at the address listed at the top of the form.

Questions?

If you have questions about your statement, contact your human resources office.

Source: UW Service Center
Categories: WI Retirement System (WRS)