2016 New Employee Benefit Orientation University Staff Covered by the Wisconsin Retirement System

Transcription

1 2016 New Employee Benefit Orientation University Staff Covered by the Wisconsin Retirement System (Rev 01/16)

2 Attributes of University Staff What is a University Staff? Hired as University Staff, University Staff Project and University Staff Temporary appointments Hired through merit based recruitment, selection and hiring processes Paid on an hourly basis Paid every other Thursday for prior two-week pay period. Earnings statement available online at

3 How do I enroll in benefits? Benefit applications: Return applications to your benefits office. See your enrollment deadline worksheet for specific deadline dates. Benefits are generally effective on the 1 st of the month on or following your WRS eligibility date (usually your date of hire) if your application is submitted within 30 days. Some employees can enroll online through ebenefits you will be notified if eligible. You will log in to ebenefits through your MyUW portal at (Benefit Information box).

4 How do I pay for my benefits? Benefit premiums: Premiums taken via payroll deduction Most benefits paid in advance of coverage so there may be multiple deductions from first check that includes benefit deductions All premiums shown are monthly premiums. You are generally paid twice a month (referred to as an A or B paycheck). o o o All benefit deductions taken on A paycheck (except for State Group Life, which is taken on the B paycheck). Wisconsin Retirement System, Flexible Spending Account, Tax- Sheltered Annuity and Wisconsin Deferred Compensation contributions taken on all paychecks, including the C (there are two C paychecks per year). Please see the Payroll Calendar for a listing of A, B and C paychecks.

5 Paid Leave Information (Prorated if less than 100%) Type of Leave Sick Leave Personal Holiday Legal Holiday Vacation Hours Earned 5 hours/paycheck (130 hours/year) 36 hours/year 9 days/year Based on years of service and status under Fair Labor Standards Act (see following page) Leave Provisions Accumulates without limit Only use after earned Granted on hire date and every January 1 st Use from hire date Must be used in CY granted or hours lost New Years Eve/Day, Christmas Eve/Day, MLK Day, Memorial Day, 4 th of July, Labor Day, Thanksgiving Must be used in CY granted or hours lost Hours earned in CY may carryover until end of following CY. Hours lost if not used or banked (if eligible) by end of carryover period.

6 Time & Absence Reporting Rules Must establish a standard 40 hour work week (prorated if part-time) for reporting purposes. University Staff timesheets are due biweekly on the Friday at the end of the pay period. See Payroll Calendar for dates. Non-exempt University Staff employees report leave in quarter hour increments. Exempt University Staff employees report leave in half and full days (if full-time) During each work day, if you miss: < 2 hrs 2-6 hrs 6+ hrs Report Leave of: 0 hrs 4 hrs 8 hrs Timesheet access and leave balances are available in the Time and Absence box of the My UW portal:

7 Annual Vacation Allocation (prorated if part-time) Vacation Hours Earned Each Year Years of Service FLSA-Non Exempt FLSA-Exempt First 5 Years to 10 years to 15 years to 20 years to 25 years years & Over Leave Notes Vacation is granted on January 1 st (prorated based on hire date when first employed) University Staff Temporary employees are not eligible for paid leave Crafts workers are subject to different leave provisions

8 Wisconsin Retirement System (WRS) Designed to provide you a retirement annuity (pension) once you reach retirement age and are vested Administered by the Department of Employee Trust Funds (ETF) Investments managed by the State of Wisconsin Investment Board (SWIB) Minimum retirement age is 55 - normal retirement age is 65 Vesting o If first covered by the WRS on or after , fully vested after 5 years of WRS service o If you have WRS service prior to , immediately vested Receive a WRS account statement every April in the myuw portal: (Benefits Box Statements Tab) Prior WRS service may impact benefit application deadlines, WRS eligibility and vesting.

9 WRS Eligibility If you do not meet the eligibility requirements below when you are first hired, you will be covered under the WRS once you meet the requirements or are expected to meet the requirements. Once WRS eligibility requirements are met (or expected to be met), participation is mandatory. If you are first covered by the WRS on or after July 1, 2011: You are eligible for the WRS if you are expected to work both one year and 1,200 hours (58%) If you have WRS creditable service prior to July 1, 2011: You are eligible for the WRS if you are expected to work both one year and 600 hours (29%)

10 2016 WRS Contribution Rates Employee Required Contributions Employer Required Contributions 6.6% of salary Deductions taken on a pre-tax basis for state and federal tax purposes. *WRS contributions subject to IRS limits employees and UW pay WRS contributions on first $265,000 in earnings. 6.6% of salary - for all University Staff employees except those in Protective WRS category 9.4% of salary Protective w/ Social Security (employer also pays.38% to fund duty disability program) The UW also contributes 1.2% of salary to fund retiree health insurance credits.

11 WRS Core and Variable Funds Two investment funds o Core Fund: 50% stocks, 50% fixed income and other assets (subject to change) o Variable Fund: 100% stocks o Information about WRS investments: All contributions invested in Core Fund unless you file a Variable Fund election to send half of contributions to Variable Fund. If you want to immediately elect the Variable Fund, you must submit a Variable Fund Election to ETF within 30 days of your WRS begin date. Election available at: If you do not elect the Variable Fund within your first 30 days, you can submit election at any time - will be effective January 1 st following the year election received by ETF. If you elect to participate in the Variable Fund and later cancel your participation, you will not have another opportunity to participate in the Variable Fund. For more information about Variable Fund participation:

12 Wisconsin Retirement System Non-Retirement Benefits If you leave employment before minimum retirement age or before you are vested, you can leave your money in the WRS to accumulate interest. Separation benefit Available if you end WRS employment before minimum retirement age or after retirement age if not vested. Benefit paid equals employee contributions plus accumulated interest (not eligible to receive employer contributions). Death benefits If death occurs while actively employed, full value of WRS account is payable upon death. Disability benefits If you become permanently disabled and unable to work, you may be eligible for a WRS disability annuity (minimum service requirements apply). For more information about all WRS related benefits, visit ETF s website:

13 Domestic Partner Benefits You may cover a domestic partner and his/her children under all benefit plans that provide coverage for dependents. To qualify as domestic partners, two people must meet all of the following criteria: o Each person must be at least 18 years old and competent to enter into a contract; o Neither person is married to, or in a domestic partnership with, another; o They share a common residence; o Their partnership must not violate Wis. Stats , which bars marriage between certain persons based on kinship and divorce; o They must consider themselves to be members of each other s immediate family; o They must agree to be responsible for each other s basic living expenses. See for affidavits and detailed enrollment information.

14 Important Tax Considerations for Those who Cover a Domestic Partner/Partner s Children A domestic partner and his/her children are typically not considered your tax dependents under federal and state tax code. If you carry non-tax dependents on your health insurance, the value of coverage provided to them is taxable income to you. This is referred to as "imputed income and will increase your tax liability. The additional taxes owed can range from under $100 to $400 or more per month, depending on the number of covered non-tax dependents. These additional taxes will be taken on the same paycheck as your health insurance deduction. Fair market value charts, imputed tax calculators, links to IRS publication and other tax information is available online at: and

15 State Group Health Insurance (SGH) Must submit an application to either elect or decline coverage Application: Enrollment Period within 30 days of WRS eligibility date Coverage levels single or family o If married to another state/uw employee, must carry either 2 single policies or 1 family policy (does not apply to those in a domestic partnership) o If in domestic partnership, you are NOT required to carry your partner on your family policy. However, if you want to cover your partner s children, you are required to cover your domestic partner as well Enrollment options when covered by another health plan o Other plan is NOT a State of WI/UW plan no restrictions can have coverage under both plans o Other plan is a State of WI/UW plan through parent or spouse/domestic partner remain on parent s/spouse s/domestic partner s plan until no longer eligible OR enroll in own plan; you may not be covered on both

16 State Group Health Insurance Enrollment Period You may choose your effective date of coverage for health insurance. Coverage will be effective: As soon as possible. This will be the first of the month on or after your WRS eligibility date. You will pay the full cost for the first two months of coverage; OR When the employer contributes to premiums. This will be the first of the month on or after you have completed 2 full months of Wisconsin Retirement System (WRS) State/UW service. You will receive the employer contribution with the first month of coverage. If using the application, ET-2301, check the box in Section 4 that indicates if you want coverage to be effective as soon as possible or when the employer contributes to premiums. Sample of Section 4 of ET-2301

17 Health Insurance Opt-Out You may be eligible to receive up to a $2,000 Opt-Out Incentive from the UW if you opt-out (waive coverage) of State Group Health Insurance coverage. The maximum annual Opt-Out Incentive is $2,000 for single or family coverage. You are not eligible for the Opt-Out Incentive if you are covered under State Group Health Insurance as a dependent. The $2,000 Opt-Out Incentive is pro-rated. You will receive an equal portion of the payment in each payroll period (payment will be made in the A and B payroll periods). State law prohibits eligible employees who opted-out of the State Group Health Insurance coverage in 2015 to be eligible for the Opt-Out incentive.

18 Health Insurance Opt-Out If you are considering opting-out of health insurance coverage, it is important to know the following: Impact on Sick Leave Credits. When you retire, or die while an employee, unused sick leave is converted into credits to pay for health insurance for you or your surviving dependents if you are covered under the State Health Insurance program. If you Opt-Out, your unused sick leave credits have no value until/unless you reenroll in the future. Re-enrolling in health insurance. You may only re-enroll during the year if you have a qualified Life Event (such as marriage, birth of a child, loss of other coverage). Enrollment in Other Benefit Plans. You may still elect the supplemental dental plans, Dental Wisconsin and/or EPIC Benefits+ and/or the supplemental vision plan, VSP. The $2,000 Opt-Out Incentive is taxable. Affordable Care Act (ACA). The ACA requires most Americans to have health insurance or pay an annual penalty. If you Opt-Out of this health insurance program and do not have other coverage, you may be subject to a fine when you file your federal income taxes.

19 State Group Health Insurance Coverage Types You may choose the health insurance plan option that will best meet the needs of you and your family. Employees have the choice between: It s Your Choice (IYC) Health Plan (regional HMOs and PPOs); or Access Plan (nationwide PPO network) Both plan options also offer a high deductible health plan (HDHP) option which has a higher deductible in exchange for a lower monthly premium. Enrollment into the HDHP option requires you to enroll in a Health Savings Account (HSA). The UW will contribute to your HSA.

20 State Group Health Insurance Coverage Types IYC Health Plan Provides the same level of innetwork coverage regardless of which health plan (insurer) you choose Most health plans are HMOs must use plan providers PPOs pay lower level of benefits if non-plan providers are used Access Plan PPO insurance plan Nationwide network and is available in every county in WI Higher premium costs Offers HDHP option Includes Uniform Dental Provider networks are primarily in Wisconsin Offers HDHP option Includes Uniform Dental

21 State Group Health Insurance Coverage Most in-network medical services are subject to a deductible and either an office visit copayment or 10% coinsurance. Preventive services are covered at 100% and are not subject to the deductible or copays. Uniform Benefits is the standardized level of benefits offered by all health plans participating in the IYC Health Plan and the IYC HDHP. All health plans, except the State Maintenance Plan, offer Uniform Dental Benefits. Uniform Dental is included with your health plan unless you decline Uniform Dental when you enroll. If you decline Uniform Dental, your monthly premium will be reduced. All health plans offer the Pharmacy Benefits administered by Navitus.

22 State Group Health Insurance Coverage You have some basic decisions to make about your health insurance enrollment. All of the offered health plans, except the Access Plan, offer the same Uniform Benefits coverage. You are primarily choosing: The type of plan you want-- HMO, Regional PPO, Nationwide PPO and/or HDHP, based on the plans available in your area Provider network/ access to physicians, hospitals or other health care providers Cost-- including deductible, out-of-pocket medical costs and monthly premium costs, deductible and level of employee premium contributions. Plan performance on quality measures Other wellness benefits or perks (e.g. healthy living rewards, incentives, complementary medicine) All health insurance information can be found in the It s Your Choice Decision Guide available at:

23 Health Plan Summary Deductible Office Visit Copay Primary Care IYC Health Plan $250 individual $500 family HDHP $1,500 single* $3,000 family* $15 1 $15 Office Visit Copay Specialty Care $25 1 $25 Coinsurance You pay 10% You pay 10% Annual Out-of-Pocket Max (OOPL) $1,250 individual $2,500 family $2,500 single $5,000 family *HDHP members must satisfy the full deductible for the level of coverage elected (single or family) before any benefits are payable. 1 For IYC Health Plan, the deductible does not have to be met for office visit copays to apply. Preventive services are covered in full.

24 Uniform Dental Summary Coverage Covered Services (Examples) Annual Deductible $0 - Annual Benefit Maximum (per person) Diagnostic/Preventive 100% $1,000 - Restorative 100% Fillings Periodontal & Adjunctive Services 80% Orthodontia (under 19) 50% Orthodontia Lifetime Max $1,500 Routine Evaluations X-rays Fluoride Treatments Periodontal Maintenance Only Local Anesthesia You must use dentists in the Delta Dental Network.

25 Prescription Drug Coverage Administered by Navitus Health Solutions ( You will receive a prescription ID card from Navitus. Benefit Out-of-Pocket Costs Prescription Drug Copay (30-day supply) Level 1 - $5 Level 2 20% ($50 max) Level 3 40% ($150 max) Specialty Drugs Copay (30-day supply) Level 4 Preferred $50 if filled at specialty pharmacy Level 4 Non-Preferred 40% ($200 max) Prescription Annual Out-of- Pocket Limit (OOPL)*. When OOPL is met, 100% coverage for remainder of calendar year. Level 1 & 2 - $600/person, $1,200/family Level 3 No OOPL. Federal max applies Level 4 (preferred) - $1,200/person, $2,400/family *No separate prescription OOPL for HDHP. Applied to medical OOPL. Mail Order is available through WellDyneRx. Up to a 90-day supply of Level 1 and Level 2 drugs may be purchased for two copayments. HDHP Enrollees: You must meet the annual health plan deductible before prescriptions costs are covered per the above chart.

26 State Group Health Insurance 2016 Monthly Employee Health Insurance Premium Contributions Health Plan All health plans with Uniform Dental (except the Access Plan) All health plans without Uniform Dental (except the Access Plan) Access Plan with Uniform Dental if assigned to work out-of-state Access Plan without Uniform Dental if assigned to work out-of-state IYC Health Plan High Deductible Health Plan Single Family Single Family $86 $217 $32 $81 $83 $209 $29 $73 $136 $341 $82 $205 $133 $333 $79 $197 Access Plan with Uniform Dental $253 $632 $199 $496 Access Plan without Uniform Dental $250 $624 $196 $488

27 State Group Health Health insurance premiums are deducted on a pre-tax basis. If you would like your premiums deducted on an after-tax basis, please contact your benefits office. Employees who work less than 50% and University Staff Temporary employees with one appointment pay 50% of the total premium (With Uniform Dental/Without Uniform Dental). Note: University Staff Temporary employees with 2 concurrent appointments who work at least 50% are eligible for the premiums listed on previous slide. Health Insurance Application Annual Benefit Enrollment (ABE) Period (October of every year) o May enroll in health insurance coverage during the ABE period for coverage effective on the following January 1 o May also change health plans, change from single to family coverage and/or add or remove eligible dependents for the following calendar year.

28 Health Savings Account (HSA) A Health Savings Account (HSA) is a pre-tax savings account available only to employees who enroll in a High Deductible Health Plan (HDHP). HDHP enrollees are REQUIRED to enroll in the HSA. Use the HSA to pay eligible medical, dental, vision and prescription expenses not covered by insurance for qualified dependents and relatives as defined by the IRS. The UW will contribute to your account on your A and B paychecks. You may also contribute, up to the federal annual limit. HDHP Enrollment Annual Contribution Information for HSA Employer Contribution (if coverage effective January 1 st ) 2016 Limit (including ER contribution) Single $750/year $3,350* Family $1,500/year $6,750* *If you are years of age, you may contribute an additional $1,000 catch-up per year to your HSA.

29 Health Savings Account (HSA) The employer HSA contribution is pro-rated and an equal portion is deposited to your account in each A and B payroll. Crafts workers and rehired annuitants are not eligible to receive the annual employer contribution to an HSA but must still enroll in the HSA if they elect an HDHP. To enroll, please contact your benefits office for an application. For additional information, see the HDHP/HSA information on: ETF s website; or UWSA website

30 Flexible Spending Accounts (FSA) The Flexible Spending Account (FSA) program is administered by TASC. 30-day enrollment period - must re-enroll every year (University Staff Temporary employees not eligible) Services received prior to effective date cannot be reimbursed. Flexible Spending Accounts offered: o o o Healthcare FSA used to pay for eligible medical expenses not covered by insurance. Expenses can be incurred by you and/or your eligible family members (HDHP enrollees not eligible). Dependent Day Care FSA used to pay for eligible dependent care expenses for eligible family members (daycare, after school care, adult day care ). Limited Purpose FSA used to pay for eligible dental, vision and postdeductible medical expenses. Expenses can be incurred by you and/or your eligible family members (for HDHP enrollees only). This program automatically provides pretax premium deductions for health, dental, vision and a portion of State Group Life insurance premiums for eligible employees regardless of enrollment in an FSA).

31 Flexible Spending Accounts (FSA) FSA contributions are deducted pretax. State, federal and social security taxes calculated on remaining income. Annual contribution maximums o o Healthcare & Limited Purpose FSA: $2,550 maximum Dependent Day Care FSA: $5,000 maximum (restrictions may apply) Plan year is XX to XX. If enrolled in 2016, you have until December 31, 2016 to incur eligible expenses. Claims must be submitted to TASC by March 30 following the plan year. If you have any money left in your account at the end of the plan year, up to $500 will carry over into the next plan year Anything over $500 will be lost. Mid-year plan changes are restricted must have an eligible Life Event to change election or enroll in plan. Must file a Change of Election form for approval within 30 days of an eligible Life Event. Enrollment forms available at:

32 Dental Wisconsin (Administered by EPIC Life Insurance Company) 30-day enrollment period. No employer contribution for premium. Two Dental Wisconsin plans available (select one): o o Preferred Provider Plan (PPO) Select Plan (no diagnostic or preventive coverage) Application Plan Brochure See any dentist but greater benefits received if you see a Delta Dental Premier Provider. For PPO in-network benefits, use the Delta Dental PPO Provider Look-Up Dental WI also provides a vision discount program through Davis Vision. Present your Dental WI card at any Davis Vision provider to receive discounts on eye wear Monthly Premiums Plan Employee Only Employee & Spouse/DP Employee & Child(ren) Family Select Plan $20.52 $42.19 $48.68 $71.59 PPO Plan $25.49 $53.96 $60.34 $91.21 Note: Once enrolled for plan year, must remain in plan for remainder of calendar year.

33 Dental Wisconsin Benefit Summary Plan Name PPO Plan Select Plan Out-of- In-Network Network Diagnostic / Preventative 100% 75% No coverage Basic 75% 55% 75% Major/Restore (Includes Endodontic, Periodontics and Implants) 50% 25% 50% Orthodontia (Lifetime Benefit) Annual Deductible Per Person $1,000 Benefit (for children under 19) $1,000 Benefit (for children under 19) $25 $50 $50 Office Visit Copay None None Annual Benefit Maximum $1,000 $1,000 Waiting Period (if no prior coverage) Basic Services Major Services Orthodontia 3 Months 3 Months 12 Months 3 Months 3 Months 12 Months

34 EPIC Benefits+ Enrollment period - within 30 days of employment begin date OR when first eligible for employer contribution towards health insurance No employer contribution for premium. Application Plan Brochure 2016 Monthly Premiums Coverage Level Without Vision With Vision Single $19.77 $24.02 Employee + Spouse/DP $39.54 $47.04 Employee + Child(ren) $39.54 $47.04 Family $59.31 $70.34 Note: Once enrolled for plan year, must remain in plan for remainder of calendar year.

35 EPIC Benefits+ Summary of Benefits Benefit Supplemental Dental (no coverage for basic or preventive services) Hospital and Surgery Benefit AD&D Benefits Vision Discount Plan Vision Insurance Plan Description Pays 50% of covered dental charges, after $75 deductible. $1,500 annual maximum $1,200 orthodontia lifetime maximum (under age 19 only); 12-month waiting period You receive $200/day starting on 3 rd day of hospital confinement; You receive $200 per eligible outpatient surgery Receive lump sum payment (between $1,000 and $15,000) for accidental death or dismemberment Davis Vision Affinity Discount Plan For additional premium, enroll in vision insurance through Davis Vision Network (in- and non-network benefits available)

36 VSP Vision Insurance 30-day enrollment period Application Plan Brochure 2016 Monthly Premiums Employee Only Employee + Spouse/DP Employee + Child(ren) Employee + Family $6.54 $13.08 $14.73 $23.54 Will not receive an ID card must notify your eye care provider that you have coverage under VSP. May print an ID card at Note: Once enrolled for plan year, must remain in plan for remainder of calendar year.

37 VSP Vision Insurance Summary of Benefits Benefit Vision Exam Prescription Glasses Description Annual eye exam with a $15 copay (also covered by all IYC Health Plans with a $25 copay) Frames covered up to $130 every other year after $25 copay Lenses covered every year after copay employee cost depends on selected lenses Contact Lenses $130 annual allowance no copay for contact lenses KidsCare Program Additional Savings Two exams per year Impact resistant lenses Lenses replaced annually or as needed Frames replaced annually with $25 copay Discounts on additional glasses purchased in-network Discounts on in-network laser vision correction Note: Note: VSP covers either lenses for your glasses OR contacts every year, but not both..

38 Dental Wisconsin, EPIC Benefits+ and VSP Vision Comparison How do I choose what plan is right for me? Dental Wisconsin and EPIC Benefits+ offer similar dental benefits see their dental benefits compared side-by-side on our Dental Comparison Chart. Dental Wisconsin, EPIC Benefits+ and VSP Vision all have some vision benefits see their vision benefits compared side-by-side on our Vision Comparison Chart. You may enroll in any or all of these plans.

39 Income Continuation Insurance (ICI) (Short term/long term disability) Application: Must submit an application to either elect or decline coverage. Provides up to 75% of gross base wages as replacement income if you are unable to work due to illness or disability. Two coverage levels: o Standard ICI covers earnings up to $64,000 Employer pays portion of premium o Supplemental ICI covers earnings from $64,001 to $120,000 Employee pays full premium (no employer contribution) Maximum monthly ICI benefit is $4,000 (75% of $64,000) if enrolled in Standard ICI only and $7,500 (75% of $120,000) if enrolled in Standard and Supplemental ICI.

40 Income Continuation Insurance Initial enrollment period within 30 days of WRS eligibility date (usually your hire date). Coverage is effective on the first day of the month on or after your eligibility date. Premium is based on monthly gross salary and sick leave balance o Standard ICI Premiums o Supplemental ICI Premiums (add to Standard ICI premium to calculate total premium) ICI benefits begin the later of 30 calendar days or the use of all of your sick leave, up to 1040 hours. If you do not enroll when initially eligible, can enroll through Deferred Enrollment by January 30 th of a given year if one of the following occurs: o o o The 1 st time you qualify for Category 3 by earning and retaining 80 or more hours of sick leave in the previous calendar year The 1 st time you accumulate 520 or 728 hours by the end of the previous calendar year Following any year that you accumulate 1,040 hours of sick leave.

41 Life Insurance Programs There are four life insurance programs available. All are term life insurance policies. You can enroll in none, some or all of the programs. Unless otherwise indicated below, if you do not enroll during your initial enrollment period, you can apply for coverage through Medical Evidence of Insurability but acceptance is not guaranteed. Enrollment period: Except as noted below, enroll within 30 days of WRS eligibility date (typically your hire date). Coverage is effective on the first day of the month following 30 days from the date of WRS eligibility. State Group Life Insurance Individual & Family Group Life Insurance UW Employees Inc Life Insurance Accidental Death & Dismemberment Life Insurance (includes Zurich Travel Assist Travel Insurance) Can enroll at any time

42 State Group Life Insurance (SGL) Employee Coverage o Each unit of coverage based on your annual earnings (adjusts on an annual basis). Elect 1 5 units of coverage o Benefit doubles if death is accidental Family Coverage o Spouse/Domestic partner up to $20,000 o Children up to $10,000 Application: (Must submit an application to either elect or decline coverage) Beneficiary Designation: Premium based on age, calendar year earnings and coverage level o Premiums for first $50,000 of coverage taken on pre-tax basis Continuation of coverage at retirement or termination with at least 20 years of WRS service (eligibility requirements must be met). No premium required when you turn 65 and are retired.

43 Individual & Family Group Life Application: Beneficiary Designation: You may choose initial coverage at the following amounts: Employee: $5,000 / $10,000 / $15,000 / $20,000 Spouse/Domestic Partner: $5,000 / $10,000 Children: $2,500 / $5,000 Premium based on employee age and coverage level Can increase coverage level on an annual basis during Annual Increase Option Period every October. Maximum coverage: Employee: $300,000 Spouse/Domestic Partner: $150,000 / Children: $25,000

44 UW Employees Inc Life Insurance (UWE) Application: Beneficiary Designation: Can elect and change beneficiary online at: (will receive login information from Minnesota Life after enrollment is processed) Employee-only coverage coverage level and premium based on age Age Coverage Premium Age Coverage Premium < 35 $33,000 $ $15,000 $ $28,000 $ $13,000 $ $25,000 $ $12,000 $ $18,000 $ $7,000 $3.00

45 Accidental Death & Dismemberment Life Insurance (AD&D) + Zurich Travel Assist Enroll at anytime - coverage effective on 1 st of month on or after the date application received by your benefits office. Application: Beneficiary Designation: Benefit payable for accidental death/dismemberment only - includes many additional benefits for surviving dependents. Plan summary: Coverage options range from $25,000 - $500,000 for single and family coverage. Includes Zurich Travel Assist package - multilingual network of physicians, nurses and travel assistance specialists that can provide legal, medical, informational or personal help while traveling more than 100 miles from home.

46 Life Insurance Summary State Group Life Individual & Family Group Life UW Employees Inc Life AD&D Life Initial enrollment period 30 day enrollment deadline 30 day enrollment deadline 30 day enrollment deadline No enrollment deadline Who is covered? Employee, Spouse/DP, Children Employee, Spouse/DP, Children Employee Employee, Spouse/DP, Children Employee coverage amount Up to 5x annual income Up to $20,000 can increase annually Coverage based on age Up to $500,000 How much coverage is available for my family? Up to $20,000 on spouse/dp & $10,000 on children Up to $10,000 on spouse/dp; $5000 on children. Can increase annually None Certain % of employee coverage see plan certificate for details

47 Beneficiary Designations A beneficiary is a person(s) or any legal entity such as an estate or trust, that you specifically name to receive benefits payable upon death (WRS account, life insurance, value of tax deferred retirement savings account ) Most beneficiary designations available online: Each benefit plan has a separate beneficiary designation. Exception State Group Life and WRS use the same form. Mail beneficiary designations directly to the address listed on the form. If you do not file designation, benefits will be payable per Standard Sequence. It is important to keep your beneficiary designations up-to-date. Always review your designations and update as necessary when you have a life event (birth, death, divorce, marriage, change in domestic partnership ).

48 Parking and Transit Administered by TASC. TASC also offers Parking and Transit benefits that allows you to pay for certain transportation-related expenses on a pre-tax basis. This includes: o Mass Transit Fares o Parking Fees The UW System deducts parking costs on a pre-tax basis. If you purchase parking through the UW, you already receive this pre-tax benefit. The limits are $130 per month for transit and/or vanpool, and $255 per month for parking. You may change your election amount at any time. Enrollment form

49 Retirement Savings Plans Wisconsin Deferred Compensation Set up account, fund allocations and payroll deductions directly with Wisconsin Deferred Compensation Roth (post-tax) Option available WDC offers 22 investment options: o 6 Lifecycle Funds o 1 stable value option o 1 FDIC-insured bank option o 10 mutual funds o 4 commingled trust options o Self-Directed Brokerage Account Annual fees based on total account balance ($0 - $180/year) To enroll or for additional information, please contact Wisconsin Deferred Compensation at or go to: UW System can not provide specific investment advice.

50 Supplemental Retirement Savings Plans TSA Program Set up an account directly with a UW TSA investment company(ies) o Online with TIAA-CREF, Fidelity, T. Rowe Price o RiverSource (Ameriprise), Lincoln National Life (insurance companies) an agent will help you. Submit a salary reduction agreement (SRA) to your benefits office to begin payroll deductions All fund allocations are set up directly with the investment company. UW System cannot provide specific investment advice, but individual counseling is available from the companies, in person or over the phone. Roth Option is available with TIAA-CREF, Fidelity, T. Rowe Price and Lincoln National Life No annual fee, low-cost institutional share classes For more information:

51 LifeSuite Program The LifeSuite Program is offered to all State of Wisconsin employees by Minnesota Life Insurance Company. Travel Assistance is available if you are an active employee and you or an eligible dependent is more than 100 miles from home. Minnesota Life s Redpoint website provides additional information about this program. Legal Services is available for simple will preparation or consultation to active or retired employees. If you retain a lawyer within the network, you receive 25% off their services. Beneficiary Financial Counseling for beneficiaries of employees covered under the State Group Life Insurance program if they receive at least $25,000 in State Group Life Insurance benefits. Legacy Planning Services is available to active or retired employees to help with end-of-life issues. Minnesota Life s website has additional information about this service.

52 Long Term Care Insurance Long-term care insurance (LTCi) provides financial protection for the costs of long-term care. It covers services that are typically not covered by health insurance but are vital, such as walking, eating, bathing, etc. Coverage includes care in non-institutional settings, such as assisted living, adult day care, and in-home care. LTCi is available to you, your spouse or domestic partner, your parents and your spouse s or domestic partner s parents. Anyone covered by the plan must live in Wisconsin. You may apply directly to the vendor at any time. The Department of Employee Trust Funds (ETF) monitors the LTCi plans.

53 Life Events Impact Benefits Contact your payroll and benefits coordinator within 30 days of a Life Event. You only have 30 days following a Life Event to change/enroll in the majority of benefits. Examples of life events: Marriage or divorce Begin or end a domestic partnership Birth, adoption, guardianship of a child (60 days to enroll) Termination of employment Disability Change in employment status Move Spouse, dependent child, domestic partner death

54 Resources View earnings, leave and tax statements as well as important benefit information on the My UW System portal: Contact your institution s benefits office or visit your institution s website. Contact information online: UW System Administration s benefits website: University Staff Employee Benefit Summary: New Employees Benefits website: See an estimate of your total compensation package: