HR, Payroll and Benefits News

WRS Annual Statement of Benefits Available in the MyUW Portal
April 15, 2019

UW employees covered by the Wisconsin Retirement System (WRS) in 2018 can now view their annual WRS Annual Statement of Benefits in the MyUW portal. Log into the MyUW portal for UW System institutions or for UW-Madison.

Launch the Benefit Information module and click on the Statements tab. Choose “2018 ETF Annual Statement of Benefits (WRS) Issued 2019” to view or print your statement.

Understanding Your Statement
The WRS Annual Statement of Benefits includes 2018 earnings and service, years of creditable service as of January 1, 2019, retirement benefit projections, separation benefit, death benefit, and primary beneficiary designation(s) for your WRS account.

The Department of Employee Trust Funds (ETF) has 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 and explanation which highlights important information on the statement.
• The ETF Statement of Benefits web page providing resources including a sample statement, statement FAQ, and an explanation of the statement.
• Live Webinar: Topics include WRS contributions, vesting status, years of service, and what happens to your account if you die before taking a benefit. Registration is required for the webinar dates below: 
• April 25, 2019, 11:00 a.m. – 11:30 a.m.
• May 1, 2019, 6:00 p.m. – 6:30 p.m.
• May 8, 2019, 10:30 a.m. – 11:00 a.m.
• May 14, 2019, 12:00 p.m. – 12:30 p.m.

Reviewing Your Beneficiaries
It is important to review your WRS account primary beneficiary (ies) on your statement. If there are no 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 recommended that if you do not have a beneficiary designation listed on your statement that you complete a Beneficiary Designation Form.

Death benefits are 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)