Issuu on Google+

your $

A magazine from WEA Trust Member Benefits

™

WINTER

Young money Ryan Robarge plans to retire

your insurance

What goes into your auto insurance rates?

your account

Tips for jumping through 403(b) TPA hoops

your kiosk

2010 Guaranteed Investment rate Share your benefits with your family Pop Quiz: Test your financial knowledge weabenefits.com

2010

}


your $ {

CONTENTS

WINTER 2010

3 YOUR ACCOUNT - 403(b) fees to change.

- Watch for your 1099R.

6

- Do you qualify for Saver’s Tax Credit?

4 YOUR INSURANCE

4 9 YOUR ACCOUNT,

6 YOUR STORY

10 YOUR KIOSK

- Want to convert an IRA? This may be the year for you.

- What goes into your auto insurance rate?

- First-year teacher Ryan Robarge prepares for retirement.

CONT.

- Why 403(b) transactions involving TPAs can take longer.

- Family members share the benefits. - 2010 Guaranteed Rate. - Pop Quiz: Test your financial knowledge.

{

president’s letter

9 © 2010 WEA Member Benefit Trust All Rights Reserved

Dave Kijek, President/CEO, WEA Trust Member Benefits

Start saving early and have no regrets later

2

American workers admit they save too little, too late. In fact, nearly half of those in the workforce—and a third of those who have already retired— say saving too late is their biggest financial regret. Getting motivated to put money aside for something as distant and nebulous as retirement can be a challenge when you’re just starting out. But, finding even a small amount early on to contribute to a retirement savings account can significantly impact

when and how you retire. Member Ryan Robarge has the right idea. He’s a first-year educator making sure to invest in his future right from the start. I know he won’t regret it. And hopefully he’ll pass along this wisdom to others. Speaking of wisdom, have you heard about Words of Wisdom? We’re collecting advice for future education professionals. Take a moment to provide a new or future educator with the advice you wish you would’ve had. See page 8 for more details. Finally, I would like to welcome the Milwaukee Public School employees.

They finally have access to our WEA TSA Trust’s 403(b) program. We are happy to be able to provide these members with a quality, low-cost retirement savings option. As always, we are here for you. Let us help you in 2010 with your personal insurance and retirement savings needs.

P.S. Check out the Guaranteed Rate for 2010 on page 10. weabenefits.com


{ your account IRA and 403(b) News

If your d istr works w ict ith a TPA, see pag e 9.

403(b) fee change

Effective June 1, 2010, the WEA TSA Trust’s annual administrative fee will increase from 0.32% to 0.35% (an increase of 30¢ per $1,000), and the annual fee cap will increase from $225 to $300. This minor fee increase is the result of a recent program evaluation and fee analysis and is necessary to continue to provide the superior levels of service and best-of-class products you are accustomed to receiving. As a not-for-profit, we are committed to keeping fees low so more of your money is working for you. This is only the second fee adjustment in 18 years.

Watch for your 1099R

If you took a reportable distribution from your WEA TSA Trust and/or WEAC IRA account(s) during 2009, we will send you a 1099R to the address we have on file on or before January 31, 2010.

Do you qualify for the Saver’s Tax Credit?

The Saver’s Tax Credit allows retirement plan participants with annual adjusted gross income of up to $26,000 (filing individually) or $52,000 (filing jointly) to save on their federal income tax. The maximum annual contribution eligible for the credit is $2,000 per person. The rate is based on your income in the taxable year for which you claim the credit.

WEAccess user ID and passwords

A PIN was assigned to you when you opened your TSA or IRA account. For a PIN reminder, call the Account Information Line at 1-800-279-2490 or go to weabenefits.com and click on Access Your Account.

Contribution limits unchanged for 2010

Contribution limits for 403(b) accounts will remain at $16,500 for 2010. Employees age 50 and older can contribute an additional $5,500 for a total of $22,000. If you have 15 years or more of service with your employer, you may have an additional “catch-up” opportunity. IRA contribution limits will remain at 5,000 for 2010. If you are age 50 or older, you may contribute an additional $1,000 to your IRA.

IRA conversions in 2010

The IRS lifted the conversion cap on Roth IRAs (effective January 1, 2010), allowing workers at any income level to take advantage of the Roth. When converting a Traditional IRA to a Roth, you will have to pay income tax on the entire amount converted. However, the IRS is allowing you to spread your taxes over two years. Convert in 2010 and you won’t have to pay taxes on the conversion until 2011. Please note that at the time of this printing, this applies to federal taxes and not Wisconsin state taxes. This is for informational purposes only and not intended to be legal or tax advice. Consult your tax-advisor or attorney before taking any action.

$2.1 billion

Participant assets held in the WEA TSA Trust and WEAC IRA programs.

$5k

2010 contribution limit for IRA. Add an extra $1,000 if you are age 50 or older.

4.15.10

The last day to make IRA contributions for the 2009 tax year. Contributions must be postmarked by April 15, 2010.

63

Average retirement age in the U.S., according to the U.S. Census Bureau.

20%

The percentage of the average American’s lifespan that will need to be funded with retirement savings.

Winners! Pictured here with Dave Kijek and WEAC leadership are Anne Feyen, Glorie Salas, Paul Jutrzonka, Sally Conway, and Michael Parkinson. These WEAC members were winners of prizes donated by WEA Trust Member Benefits at the 2009 WEAC Convention in Milwaukee. weabenefits.com

3


{ your insurance

YOUR ROAD MAP Auto insurance rates can vary dramatically from So what exactly do insurance companies look at when factors insurance companies consider and explain why

A

uto insurance can be confusing. Or maybe the better phrasing is: auto insurance is confusing to most of us. You get a quote from Company A and it’s significantly different than a quote from Company B. Why is that? Auto insurance rates are affected by a combination of factors—many of which are unique to each insurance company. One company may look at your credit history to help determine your rate, while others won’t. Some companies may look back three years in your driving history for traffic violations and accidents, while others only look back two years. Insurance companies also offer different coverage amounts and deductibles. It’s

{ 4

WANT MORE? Find and compare vehicle safety ratings iihs.org/ratings safercar.gov

Vehicles most frequently targeted for theft nicb.org hldi.org

important to understand that when you’re comparing quotes, not only do insurance companies use different factors and data to compute rates, but their coverages can also vary. So before you automatically take the cheapest insurance you can find, ask yourself whether the coverages and limits are appropriate for you and your situation. Credit history More and more insurance companies are using consumer’s credit histories as a factor in determining not only your auto insurance rate but also whether they will insure you. It might seem that credit history would have nothing to do with insurance, but insurers have found a correlation between credit scores and claims. In 2004, the Texas Department of Insurance studied the claims records of two million insurance policies. The study found that people with lower credit scores were more likely to file insurance claims than people with higher scores. The 10% of policyholders with the worst credit scores were 1.5 to 2 times more likely to file an auto claim than the 10% of policyholders with the best credit scores. How heavily your credit score will be weighed depends on the insurance

company. WEA Property & Casualty Insurance Company (WEA P&C) currently does not use credit scores in determining insurance rates. Driving record Traffic violations and accidents on your driving record can translate into higher auto insurance costs. Each insurance company has its own procedure rules that determine: 1. Who they will and will not insure based on an individual’s driving record. 2. The rate increases and/or surcharges applied for traffic violations and accidents. 3. How far back they look at your driving history. In addition, the driving record of any licensed driver in your household (such as your spouse or child) can affect the decision of the insurance company to insure your vehicle(s). It can cause you to be turned down for insurance coverage or to pay higher insurance premiums. Age Drivers between the ages of 16 and 25 are statistically considered the least safe age group on the road—a fact that is often weabenefits.com


TO AUTO RATES company to company—and even vehicle to vehicle. determining your rate? We list some of the biggest rates can vary. 2010 TOP SAFETY PICKS LARGE CARS • Buick LaCrosse • Ford Taurus • Lincoln MKS

reflected in higher premiums. According to the Insurance Institute for Highway Safety, the crash rate for 16–19 year-olds is four times higher than drivers age 20 and older. Thus, as anyone with a teenage driver knows, adding a teen driver to the family policy can significantly increase your auto rates. “The good news is that most auto insurance companies give rate reductions at age 21 and again at age 25 (assuming the driver has a clean driving record),” explains Skip Miller, Underwriting Manager at Member Benefits. “WEA P&C not only gives rate reductions at these ages, but also at ages 17 and 19.” In addition, WEA P&C Company gives students a 20% discount on their premium if they obtain a 3.0 GPA or higher. Vehicle choice Vehicle price, cost to repair, loss experience, performance, size, and safety rating are all important to auto insurance companies. Vehicles that tend to be involved in more accidents, incur more damage, and involve more bodily harm to passengers when in accidents will likely carry higher insurance rates. “If you want a lower auto rate, you should avoid vehicles that rate low in weabenefits.com

crashworthiness (e.g., small, light vehicles such as sports cars), vehicles that are not considered to be top-of-class in safety, and expensive vehicles that will cost a lot to repair,” says Miller. Another important factor is whether or not your vehicle is on the list of those most frequently targeted for theft. The National Insurance Crime Bureau (NICB) and the Highway Loss Data Institute (HLDI) track the most commonly stolen vehicles. The NICB list tends to track all vehicles on the road (often meaning the most popular cars are the most commonly stolen), while the HLDI tracks results based on the number of insured vehicles on the road (meaning those with higher theft claims top the list). Location Auto insurance rates can vary significantly depending on where you live. Factors such as the amount of traffic in your area, urban vs. rural areas, number of car thefts, and accident rates can all play into your rate. The amount of miles you commute to work can also play a role. Some insurance companies will rate different for someone driving 10 miles to work versus someone driving 50 miles.

MIDSIZE CARS • Audi A3 • Chevrolet Malibu built after November 2009 • Chrysler Sebring 4-door with optional electronic stability control (ESC) • Dodge Avenger with optional ESC • Mercedes C class • Subaru Legacy • Subaru Outback • Volkswagen Jetta sedan • Volkswagen Passat sedan • Volvo C30 SMALL CARS • Honda Civic 4-door with optional ESC, except Si • Kia Soul • Nissan Cube • Subaru Impreza except WRX • Volkswagen Golf 4-door MIDSIZE SUVs • Dodge Journey • Subaru Tribeca • Volvo XC60 • Volvo XC90 SMALL SUVs • Honda Element • Jeep Patriot with optional side torso airbags • Subaru Forester • Volkswagen Tiguan Source: Insurance Institute for Highway Safety.

5


{ your story Ryan wisdom

YOUNG MONEY MODEL Eau Claire, Wisconsin

R

6

● Don’t be afraid to ask questions. It’s the only way you’re going to figure it out. ● Figure out your budget. Put a budget together and see where you spend your money. You should be able to find a few bucks here and there to put away. ● Don’t wait. If you don’t do it right away, you put it off and put it off. You just have to do it. ● Start small. Start saving something now, and look for ways to increase your contributions from there. ● Make it automatic. Use payroll deduction or have the money transferred electronically from your bank account. It’s easy and you’ll learn to live without it.

Ryan Robarge

yan Robarge is planning to retire…someday. He’s just 25 years old, and while retirement is the furthest thing from the mind of most people his age, he’s thinking and planning ahead. “I’m not sure it’s possible, but I’d like to retire by age 55 or 60. That would be ideal.” Ryan is a firstyear teacher at Sam Davey Elementary in the Eau Claire School District, and he’s contributing to two retirement savings accounts—a Roth IRA and a 403(b). The average retirement age in the U.S. hovers around 63, so if Ryan is successful, he’ll be retiring early. The desire to retire at an age when you’re still young enough to enjoy it is shared by the majority of working Americans according to an MSN survey. Unfortunately, many will be disappointed because the Retirement Risk Index indicates that 50% of today’s households will not have enough retirement income to

● Get out there and research. A lot of people don’t know what a 403(b) or Roth IRA is. That’s okay. Go to seminars and learn.

maintain their pre-retirement standard of living, even if they work to age 65.

The earlier the better

Retiring early requires some early planning. “The reality is that if you want to retire early, you have to save a lot of money,” says Michelle Slawny, a Certified Financial Planner™ and Senior Retirement Income Consultant at WEA Trust Member Benefits. She works with educators who are preparing to retire. “Ryan has started his career off by making a really good financial decision,” says Slawny. “His chances of retiring early are greater because he’s taking advantage of his greatest asset—time.” When it comes to retirement planning, people often underestimate the importance of saving early. Fortunately for Ryan, family members encouraged him to start investing for his future as soon as possible.

“I’m seeing more people who are 5 to 10 years from retirement who are NOT on track to meet their retirement goals. They have their heart set on retiring early, but the fact is they just don’t have enough money saved,” Slawny says.

Getting motivated

Ryan could be the poster child for what new educators—and young people in general—need to be doing when it comes to retirement savings. But, the fact is that saving for retirement is not a priority for the 20-somethings just starting out in the workforce. “It’s a mind set that needs to change,” says Slawny. The benefits of early saving are many. Of course there’s compounding interest. “It’s a beautiful thing,” says Slawny, “but on a very basic level you are doing two important things when you save for retirement. First, you’re putting money away for your future, weabenefits.com


and second, you are learning to live on less. Both will help you in retirement.” Most people don’t realize that the typical retirement calculation is based on your ability to live on 80% of your current income.

So far, so good

It’s only been a few months since Ryan started his accounts, but he is comfortable with his new savings habit. “My 403(b) contributions are taken out of my paycheck every two weeks, and the Roth IRA money comes out of my checking account automatically. It’s easy. I don’t even realize it’s gone because it’s never really been there for me to access.” Like most college graduates, Ryan has student loans, a car payment, and other expenses that make it difficult to think about saving for retirement. “The economy makes it tough, too,” says Ryan, “but if you put a budget together and really see where and how you spend, you can find $20 or more to put away. It’s so easy to blow $20 or even $100 in a weekend. If you look, you’ll find the money.” Slawny sees the economic situation as an opportunity for investors of any age, but especially for the young. “This is a great time to start investing because when the market is down, you’re buying shares at a reduced price. Everything is on sale.” Ryan acknowledges that thinking about retirement 30 years from now is hard. “It’s hard to set money aside for something that’s so far off. Yet, you have to realize that it’s money for your future. I don’t have a lot of extra money to save, but I’m starting small and hope it will grow from there.” Increasing the contribution is key, says Slawny. “When your discretionary income gets a raise, either from increased salary or reduced expenses—say you pay off a loan—you need to give your savings a raise, too.

It’s a journey

Growing your savings to a level that will support you in retirement is a journey. The mere fact that you’re saving is not going to guarantee a financially sound retirement and definitely not an early retirement, according to Slawny. Granted, Wisconsin public school employees will receive retirement income from the Wisconsin Retirement System weabenefits.com

Retirement Reality 4 Don’t expect to retire based on how others have done it. You must look forward and recognize that the landscape has changed. Here are retirement realities you need to be prepared to deal with.

4 You need to save more on your own

According to the Center for Retirement Research at Boston College, there has been a shift from a defined benefit plan where workers receive pension benefits based on years of service and final salary to a self-funded model where individuals are responsible for their own savings. Their research shows that the percentage of defined pension benefits decreased nationally from 62% in 1983 to 12% in 2007, while the percentage of 401(k)-only pension plans increased from 17% in 1983 to 63% in 2007. Be aware of the new landscape, know that your retirement picture will be different from that of your parents or older colleagues, and be proactive. Take advantage of 401(k) or 403(b) savings options, as well as IRAs, to help you achieve your retirement goals.

4 WRS Formula Benefit Calculation has changed

Wisconsin Act 11, passed in 1999, modified the way the WRS formula benefit is calculated, giving years prior to 1999 greater value. As time passes, more members will have a greater number of years applied after 2000, reducing their WRS benefits.

4 Second- or late-career educators short on WRS years

Education professionals who started late or made a career shift may not have enough time to accumulate the 30 years of service required to reach an unreduced WRS benefit. More of your retirement income will have to come from other sources. Beef up your personal savings to help cover the gap.

4 Social Security full benefit age is now 67

At any given retirement age, Social Security benefits will replace a smaller fraction of pre-retirement earnings as full retirement age rises from 65 to 67. Social Security income replacement rates for the average earner retiring at age 65 is projected to be approximately 28% in 2030, down from 41% in 2002 (after personal income taxation).

4 Health insurance costs are number 1 concern

Health insurance is the number one retirement issue whether you are thinking of retiring early or at age 65 (when you are eligible for Medicare). Someone retiring today at age 57, for example, would need over $100,000 to pay for a single health insurance policy for 8 years until they qualify for Medicare. (This assumes current monthly premiums of $700 and 8% annual increases.) In addition, another $150,000 will be needed to cover Medicare Part B and Medicare supplement insurance from age 65 until age 85.

(WRS), which may replace up to 50% of your income needs if you have 30 or more years in the system. However, Slawny warns that there are some sobering realities to be aware of that are contributing to the retirement challenge facing many Wisconsin public school employees. In her experience, Slawny says there are five things that generally contribute to members having their retirement plans delayed. • Not saving enough on your own. • Changes to the WRS formula benefit calculation in 1999.

• Increase in Social Security full benefit age to 67. • Changes to employer-paid postemployment benefits. • Health insurance cost, which Slawny refers to as the greatest ruiner of retirement. (See sidebar above for more details.) “I love giving members the green light for retirement,” says Slawny. But, when members are not on track to meet their goals, their options are to work longer, Continued on page 8

7


spend less in retirement, save a lot more, and/or get aggressive with their investment strategy.

Instructions not included

Another reason Ryan feels it’s difficult for young people to save is that they don’t really know much about investing and where to start. “It’s scary. I didn’t know much about investing, but I knew I wanted to invest money in addition to what was being put aside for me in the Wisconsin Retirement System.” With encouragement from Ron “Duff” Martin, President of the Eau Claire Association of Educators, Ryan attended one of the monthly seminars offered by the association—Finances 101 presented by Ana Bonjour of WEA Trust Member Benefits. “Ana provided really good information, and I left with a good understanding of what I should be doing as a new educator.” Ryan later enrolled in both the 403(b) and Roth IRA offered through WEA Trust Member Benefits. “She basically said, ‘here’s what you need to know, here are your options, and here’s what we’re about.’ There was no pressure.” “What stood out for me were the unique things that make Member Benefits different, like that it’s a not-for-profit

and that it was created specifically for Wisconsin public school employees.” Ryan has contacted Ana a few times since enrolling. “The customer service is excellent. You don’t get a computer. You always talk to someone. And when she wasn’t available, Ana has been really prompt in returning my calls and e-mails.”

Ryan’s retirement plans

I do love Wisconsin and the outdoors. I would love to invest in land someday. I know it’s expensive, but hopefully if I do things right when I do get that…” He starts to say “old” but corrects himself. “… when I get to that age, I will have the funds to live comfortably and do some things I want to do.”

You can do it

Achieving your retirement goals, whether you plan to retire at age 50 or 70, requires you to take some action. Plan, save, and save some more. Be aware of factors that will impact your retirement plans, and don’t expect to get there the same way your parents or a former colleague did. “New educators will likely face greater financial pressures and challenges as they work toward retirement. Be proactive: save early and save more,” encourages Slawny.

{ MEMBER PROFILE Ryan Robarge is a first-year physical education teacher in the Eau Claire School District. He also coaches freshman basketball. He grew up in Chetek in northwest Wisconsin, and after graduating from UW LaCrosse, he returned to the area and subbed for two years before landing a full-time position at Sam Davey Elementary this year. “It’s a perfect position for me. I love working with children and watching people learn and grow. I just like to be around the whole learning process. Every day is a little different. I really love it.” TSA program securities offered through WEA Investment Services, Inc., member FINRA. The Trustee for the WEAC IRA program is First Business Trust & Investments.

Words of Wisdom What piece of advice would you give to a new educator?

weabenefits.com ◊ Share your Words of Wisdom ◊ View videos ◊ Read advice from your colleagues 8

weabenefits.com


JUMPING THROUGH No getting around it—when a TPA is involved, 403(b) transactions take more time. There are more regulations, more people involved, more paperwork. Here’s an explanation of the problem and tips to minimize your frustration and expedite the process.

F

or the last two years, school districts have been adjusting to new 403(b) regulations that increased their responsibility and added more stringent compliance requirements. Some districts chose to contract with third-party administrators (TPAs) to help them manage their 403(b) plans. The problem, according to Lisa Ritschard, Retirement and Investment Assistant Manager at WEA Trust Member Benefits, is that participants in districts using a TPA are experiencing frustrations when requesting account transactions. These frustrations, she says, are primarily due to delays. “Unfortunately, there are more hoops to jump through, which adds time.” Where it used to be just you—the account holder—and your 403(b) provider, now there is the district, the provider, the IRS, and the TPA. “Participants accustomed to working directly with us on transactions need to recognize that things are different now,” says Ritschard. “We continue to have high standards for quick processing, but we have little control over the TPA processing.” If you have a 403(b) in a district that works with a TPA—even if you are retired or don’t weabenefits.com

work there any longer—add 2–3 weeks onto the processing time for your 403(b) requests, Ritschard suggests. This is because all 403(b) transactions, including withdrawals, exchanges, and transfers, must go through the TPA. Each TPA has its own set of forms and processes. Further delays may be experienced if a participant sends in an incomplete form or is requesting a transaction that requires a letter of eligibility from the school district, such as a qualified withdrawal. Planning ahead and making sure to thoroughly read and fill out all required forms is key.

What should you do?

“Call us first,” says Ritschard. “We can tell you exactly what you need to do to complete the desired transaction, including how to contact the TPA and what forms you will need to fill out. We can even walk you through the forms if necessary.”

Who does this impact?

If you made contributions to a 403(b) after January 1, 2005—even if you are now retired or separated from service—you are forever connected to the district plan and the TPA (if there is one).

Getting through the hoops unscathed Plan ahead If a TPA is involved, add 2–3 weeks onto the transaction. That’s just how long it takes. Call us first at 1-800-279-4030 We are very familiar with how the TPAs work. We can tell you who to contact, what forms you need, and we can even help you fill out the appropriate forms. Read and complete all forms carefully Incomplete forms will be sent back to the participants, adding even more time to the process. Follow up with the TPA Keep track of your transaction by keeping a log of when forms were completed and who you talked to and when. Call the TPA periodically to check on the status of your request.

9


{ your kiosk Grow the family. Share the benefits. As a Wisconsin public school employee, you have the unique opportunity to participate in the insurance and retirement savings programs offered by WEA Trust Member Benefits. Did you know that your family—including your spouse, children,

You

grandchildren, parents, and parents-in-law—may also participate in many of these great programs? Plus, once enrolled, you and your family can continue

Children

Spouse

participating in these programs even if you leave or change jobs.

Parents

✓ Auto Insurance

Grandchildren

✓ Homeowners/Renters/Condo Insurance

Parents in-law

✓ Additional Liability Insurance ✓ WEAC IRA (Traditional and Roth) ✓ Retirement Income Analysis To learn more, give us a call at 1-800-279-4010 for personal insurance or 1-800-279-4030 for retirement savings and investments. Restrictions may apply. Wisconsin residency required.

{ FEEDBACK Do you have a story to tell? Do you want to tell us what you think about the magazine or suggest an article idea? Send an e-mail to

memberbenefits@weatrust.com.

Please type “your$” in the subject line.

10

UAL GUARANTEED ANN FOR RATE OF RETURN

2010

5.0%

*

WEA TSA Trust & WEAC IRA Guaranteed Investm Investment

More info at weabenefits.com *Interest is compounded daily to produce a 5.0% annual yield prior to the deduction of administrative fees of the WEA TSA Trust and WEAC IRA program. Principal and net credited interest are fully guaranteed by Prudential Retirement Insurance and Annuity Company. Such guarantees are based upon the strength and claims-paying ability of the insurance company issuing the contract. weabenefits.com


POP QUIZ 1. Pre-tax 403(b) contributions are:

Just one more way the WEA Trust makes a difference ...

2. What percentage of your Wisconsin Retirement System contributions are made by your employer?

As of January 1, 2010, the Trust will cover health insurance premiums of Trust health plan members who have been laid off, based on years of coverage by the Trust.

3. Flex spending accounts allow you to:

For more information, visit weatrust.com or talk to your field representative.

A. Taken out of your salary before taxes. B. Taxed before being deducted from your pay. C. Exempt from taxes.

A. 50% B. 75% C. 100%

A. Decide how often you want to receive your paycheck (i.e., biweekly, monthly). B. Pay for out-of-pocket medical and dependent care expenses with tax-free money. C. Purchase life insurance through your employer with taxfree money.

4. Roth IRA contributions are:

Defining Excellence. Delivering Value. THE TRUST DIFFERENCE.

A. Taxed now as regular income, but all qualified withdrawals, including interest you earn, are tax-free when you withdraw the money. A. Pre-tax contributions, meaning you don’t pay taxes until you start taking money out of the account. B. Made by your employer as part of your retirement pension plan.

5. FICA is Social Security tax that is:

A. A percentage of your income paid solely by the employer. B. A percentage of your income paid solely by the employee. C. A percentage of your income that is split equally between the employer and the employee.

6. You have until what date to make IRA contributions for the 2009 tax year: A. Too late! It was December 31, 2009. B. January 30, 2010. C. April 15, 2010.

e h t f o n io t a n la p x e n For a quiz answers, go t/opopquiz weabenefits.com

Answers: 1. A 2. C 3. B 4. A 5. C 6. C

weabenefits.com

Personal Loan Special:

6.5

%* APR

Borrow up to $3 $3,000 for 24 months.

800-457-1142 . weacu.com *Membership eligibility required. APR = Annual Percentage Rate. Approval subject to normal credit standards. Repayment example: $3,000 for 24 months at 6.5% APR is $133.62. Restrictions apply.

11


PRESORTED STANDARD US POSTAGE PAID MADISON WI PERMIT NO 2750 PO Box 7893, Madison, WI 53707-7893

I believe... I belIeve every KId deserves a Great school. Wisconsin’s public schools are among the very best in the nation because of our state’s talented, caring and committed teachers and education support professionals. Wisconsin students have their best chance at a successful future with high graduation rates and individualized attention from highly qualified teachers and education support professionals. Children reach their potential as students and human beings when they have a well rounded education that includes a wide variety of courses and programs. Students learn best with up-to-date learning tools and safe, secure facilities. ■ I belIeve Investments In Great schools buIld stronG communItIes. Every great school is the result of successful teamwork: students, educators, parents and communities working together for a brighter future. Public schools work with parents and communities to instill the character values that help children become lifelong learners, responsible adults, and kind, caring people. Public schools build local economies by preparing young people and attracting the jobs of the future to our communities. Local public schools are the heart of their communities and provide a place for friends and neighbors to come together. ■ I belIeve WIsconsIn taKes PrIde In Great schools. The public schools we have today are the result of the investments, ingenuity and commitment of our parents, grandparents and great grandparents. We take pride in the quality of our public schools and our Wisconsin way of living: successful students; happy and caring young people; a high quality of life; top graduation rates; the most highly qualified teachers and staff; top scores on the ACT and other tests. Elected officials should take the same pride in our public schools that we take. Together we can maintain our traditions and keep Wisconsin at the forefront of quality and innovation in public education. ■ We belIeve Great schools benefIt everyone. ■

33 Nob HIll Road | PO Box 8003 | Madison, Wisconsin 53708-8003 | 608.276.7711 | 800.362.8034 | 608.276.8203 FAX


Your$ Magazine -- Winter 2010