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your $

A magazine from WEA Trust Member Benefits

™

FALL

2010

Passing it on

Leatrice’s passion for learning your insurance

Texting and driving: Just say no

your account

Year-end deadlines for withdrawals set

your kiosk

Should you cash in on early retirement incentives? weabenefits.com

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your $ {

CONTENTS

FALL 2010

3 YOUR ACCOUNT

- Year-end distribution deadlines. - New statements coming soon.

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- New staff in Green Bay and Milwaukee offices.

4 YOUR INSURANCE

- Learn why texting and driving are not a good mix and how to resist the temptation.

6 YOUR STORY

- A passion for learning and teaching has been passed down the generations in Leatrice Jorgensen’s family.

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4 9 YOUR QUESTIONS

- The pros and cons of annuitizing.

10 YOUR KIOSK

- Tempted by cash incentives to retire early? Read this first. - Kids away at college? We answer your most commonly asked insurance questions.

president’s letter

10 © 2010 WEA Member Benefit Trust. All Rights Reserved.

Dave Kijek, President/CEO, WEA Trust Member Benefits

Tradition makes change easier

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Change is so prevalent in our lives—at home, at work, in our country and world. For us at Member Benefits, change comes in the form of staff, products, regulations, technology, processes. Some changes are welcome, some are not. What makes change easier is the comfort we find in those things that stay the same—the traditions that connect where we’ve been to where we’re going.

It gives the change meaning. We have a tradition of putting members first. Serving members is why we were created and why we continue to exist. Technologies come and go, new laws go into effect, but the need for financial security remains. And we remain committed to helping you achieve your financial goals through education, quality products, and outstanding service. Leatrice Jorgensen’s story illustrates the dramatic changes that have occurred in our public education system over the course of her life. The passion for learning and teaching—impressed on her by her mother and aunts, then passed on

to her daughter and granddaughters— is why Wisconsin is able to continue its tradition of providing excellent educational experiences for our children regardless of what change takes place. In closing, I want to thank those who have sent us article suggestions and who have agreed to let us tell their story. This issue of your$ begins our third year of publication. We continue to receive positive feedback and hope that you enjoy this member-focused resource. Keep the suggestions coming!

weabenefits.com


{ your account

New digs, new faces

IRA and 403(b) News

in Milwaukee and Green Bay

Year-end distribution deadlines

Lump-sum withdrawals If you would like to take a lump-sum withdrawal from your WEA TSA Trust or WEAC IRA accounts before the end of 2010, your original written request form must be received (not postmarked) by us on or before December 16, 2010, for processing the following week. We cannot accept requests via fax. Forms received after December 16 will be processed the second week in January 2011.

WEA Trust Member Benefits welcomes N’Kenza Whitlow and Dave Gardner to our new office locations in Milwaukee and Green Bay.

Milwaukee

403(b) and IRA exchanges/transfers/rollovers out Exchanges, transfers, and rollovers require a two-week processing time. Accurately completed paperwork (including approved TPA transaction authorization) received by December 9, 2010, will process by the end of December. This includes requests for IRA recharacterizations and conversions. Paperwork received after that time will process in January 2011. Postdated checks Postdated IRA contribution checks are not accepted. We are not able to accept checks written and received this tax year (2010) for next tax year (2011). Please do not postdate your checks. Postdated checks will be returned.

Nonelective, employer-paid contributions

If you will be receiving nonelective, employer-paid contributions in your 403(b) account, it is important to review your account and update your future contribution allocations. Contributions will be defaulted into an age appropriate Vanguard Target Retirement Fund* if no contribution allocations are on file. Please call at 1-800-279-4030, Ext. 8568 to review your allocations.

More detailed statements coming in 2011

Responding to requests from participants, your WEA TSA Trust 403(b) and WEAC IRA statements will have a new layout and provide more detailed account information beginning in January. The new statements will include: fund transaction detail (including contributions and distributions by date, shares, and share prices by transaction, and a ticker symbol for mutual funds), glossary of terms, trading restriction policy, and threeyear performance numbers for mutual funds. The updated statement layout will be reflected in the fourth quarter 2010 statements that will be mailed in January. *Target Retirement Funds invest in a mix of stock and bond funds that steadily become more conservative as it approaches its stated target date. Target Retirement Funds are not guaranteed and may gain or lose value now and after the target date is attained.

Holiday Schedule WEA Trust Member Benefits will be closed: Thanksgiving—November 25–26, 2010 Christmas—December 23–24 & 27, 2010 New Year’s—December 31, 2010 weabenefits.com

N’Kenza Whitlow, a Retirement Savings Consultant, is available to meet with members in the Milwaukee area at our new office located in the MTEA building. She is also meeting with members in schools throughout the district. Contact N’Kenza for an appointment or information about her building visits. Phone: 414-259-1990, Ext. 1133 Address: MTEA Building 5130 W. Vliet Street Milwaukee

Green Bay

Dave Gardner is a Personal Insurance Consultant located in the GBEA office. Members in the Green Bay area may schedule a personal insurance consultation with Dave by contacting him at: Phone: 920-593-2777 Address: GBEA Building 2258 Main Street Green Bay

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{ your insurance

isconsin motorists will be banned from sending text messages from behind the wheel beginning December 1, 2010. The law, which was signed by Gov. Doyle in May, made Wisconsin the 25th state to pass similar legislation. In all, 30 states currently ban texting for all drivers—11 of which have been signed into law in 2010 alone. The recent crackdown on distracted driving—which has enlisted the efforts of influential people including Transportation Secretary Ray LaHood and Oprah Winfrey—has focused on educating drivers about the dangers of

texting behind the wheel. According to the National Highway Traffic Safety Administration, in 2008 about 6,000 U.S. drivers died and an estimated half-million were injured in car accidents that involved distracted driving. Text messaging has skyrocketed. Phone users in the U.S. sent 9.8 billion text messages a month in December 2005, compared to 157.2 billion in December 2009—a fifteen-fold increase, according to the cell phone industry’s trade group, CTIA. A 2009 study by the University of Utah,

which had college students using a driving simulator, found that there was a six-fold increase of crashes when participants were texting while driving. Another study by the Virginia Tech University’s Transportation Institute found that within a 6-second interval, drivers who were texting had their eyes averted from the road a total of 4.6 seconds. “This equates to a driver traveling the length of a football field at 55 mph without looking at the roadway,” according to the report. Numbers released in 2009 by the National Highway Traffic Safety

Mobile tech n olog y to avoid texti ng while drivi ng Many of us know it’s not safe to text while driving. But our discipline can be weak when there is a message coming in. If you don’t think you or

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your driving teen can resist the temptation of reading or sending texts while driving, here are some technology solutions you might want to consider: DriveSafe.ly™ This smartphone app not only reads e-mails and texts aloud, but it can also send an automatic response saying you are not available. Currently available for the Android and Blackberry and coming for other phones such as the iPhone and Palm. Cost: Free (additional packages available at a cost) Web site: drivesafe.ly.com

SMS Replier This app engages its auto-reply system when it detects your phone moving at speeds greater than 15 mph. Currently available for Android, Blackberry, and Windows Mobile, with iPhone and Palm versions coming soon. Cost: $19.95 Web site: smsreplier.com iZUP This app sends incoming calls to voicemail and holds texts and e-mails continued on page 8 weabenefits.com


States that ban text messaging for all drivers States with ban text messaging for novice drivers only trillion text messages were sent in the U.S. in 2009.

The number of seconds out of a 6-second interval that drivers have been shown to have their eyes off the road during texting.

Wisconsin effective 12/1/10 Delaware effective 1/2/11

Alaska Hawaii

Administration reveal that drivers under age 20 are the worst offenders, but texting while driving is a growing trend among all ages. A study released in June by The Pew Research Center’s Internet & American Life project found that adults are equally as likely as teens to text while driving. Of all U.S. adults, including those who don’t text, 27% said they have sent text messages from behind the wheel. About the same (26%) of driving teens said they had done so. However, nearly half (47%) of adults who use the text messaging function on their cell phones said they have read or sent messages while driving, compared to 34% of texting teens. It can be very tempting to at least look at your phone if you’ve received a text. Here are some tips you and your kids can practice to avoid the temptation of reading or sending texts while driving: • Turn your phone off or on vibrate. Simply hearing the alarm that you have weabenefits.com

Source: Governors Highway Safety Association

a new message can tempt many to look at their phones right away. Keep it off or on vibrate to avoid this temptation. • Out of sight, out of reach. Make sure your phone is unreachable. Put it in your glove compartment, in your purse, or in the back seat. • If you have a hands-free headset, use the text-to-speech function on your phone. Many cell phones offer settings or allow users to install data that synthesizes and reads texts messages out loud in computerized speech. (See inset on opposite page for examples.) And, if you’re in the market for a new car, you might want to check out vehicles that will read texts to you. Ford, for example, has equipped much of their lineup with a function that will read texts off of your cell phone. • Consider a smartphone app. There are apps that will read e-mails and texts aloud and even send automatic responses saying you’re unavailable.

The number of states that currently ban texting for all drivers.

The day Wisconsin’s ban on texting while driving takes affect.

million crashes each year are estimated to be caused by drivers using cell phones and texting.

percent of texting adults have read or sent messages while driving. Sources: National Safety Council, Virginia Tech University’s Transportation Institute, Pew Research, CTIA

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{ your story

A Tradition of Teaching Leatrice Jorgensen’s kitchen table is not just a place to share dinner with her family. It’s also a gathering place where traditions are kept alive, stories are told, and a passion for learning and teaching thrive.

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n this day Leatrice sits at the table, flanked by her daughter Patti and two granddaughters Lea and Amanda. In front of her are neat stacks of papers and photos. She holds an old photo of three young women. “This is my mother with her two sisters. They were all teachers. I guess it was just expected that I would be a teacher, too.” Leatrice’s life has been shaped by a strong family connection to learning and

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teaching. The history is rich with stories that illustrate the evolution of public education over the course of her life. But, there’s also a comforting level of something unchanged—a passion for learning and teaching that’s carried from generation to generation. The other women at the table listen with adoring respect to the stories Leatrice tells. They each have a role in this story. They are all educators.

In the beginning

She has many fond memories of the rural one-room schoolhouse where her mother taught in northern Wisconsin. “We used to ski to school in the winter. We’d start up the stove and then all the children would run laps around the room to warm up,” she laughs. They lived with a host farm family. “It was hard in some ways, but I had the best time.” weabenefits.com


Leatrice pulls a yellowing sheet of paper money yet,” she says. Although being over instead,” she says. from her stack. “This was my mother’s age 70½ she is required to take required “Gee, we did quite well, and the next contract in 1937. Her salary was $80 per minimum distributions. “But you never year when I got a raise, we put that in too. month. Includes janitor work, it says. know.” And you know, we still took vacations.” Except scrubbing.” Everyone at the table Patti shares that her mother is a breast The program hit an all-time high annual finds this amusing. cancer survivor. Her mother She had a double and two aunts mastectomy after frequently changed being diagnosed in schools from year 1982. “I thought I to year. “There was was going to bite the uncertainty every - Scott Thomas, WEA Trust Member Benefits dust,” she laughs. year. My mother The times they are a changin’ never knew if she would have a job the yield of 14.5% in 1982. The WEA TSA Having the 403(b) savings has given following year. Some schools didn’t even Trust started out as a guaranteed or “fixed” Leatrice a sense of security that she allow married teachers.” investment only. Today there’s the option wants her granddaughters to have as As the only child living among three for mutual fund investment as well. well. Although the rate of return in the teachers, learning and studying was a guaranteed account isn’t as alluring as in Having options constant, but Leatrice didn’t mind. She the ’80’s, Leatrice knows that what her Leatrice has been comfortably retired for loved it. “When my mother was studying, granddaughters have on their side is time. 20 years. When she retired, she set up her I would study. In the summer time, I According to WEA Trust Member state pension (WRS) to receive a smaller would go with my mother and aunts to Benefits Retirement Consultant Scott monthly amount in order to preserve the Superior College. I would take piano or Thomas, Amanda and Lea should not beneficiary payment option. “That way if sewing classes while they earned their expect to have the same retirement something happened to me, my daughters bachelor degrees. Experiences like this are scenario that their grandmother has had. could split whatever is left.” why teaching is important in my family.” “Their 403(b) savings will be even more Because her husband had already The tradition continues important for their retirement than it passed, she was also receiving his Social Not surprisingly, Leatrice set out to Security. “I haven’t really needed the TSA Continued on page 8 become a teacher after graduating from Phillips High School. Guaranteed Investment: Then and now Her college career was interrupted From 1981 to 1989, when Leatrice was contributing to the WEA TSA Trust by marriage, but Leatrice went back for Guaranteed Investment, the rates ranged from 8% to 14.5%. Incredible, right? These her degree in 1960. Her daughter Patti annual yields more closely resemble rates you might see associated with mutual funds remembers her mother studying—her invested in the stock market. In more recent years, the annual rate of the Guaranteed books and paper spread out on the kitchen Investment has hovered around 5%. It’s a significant spread and the question that begs table. “I thought, well she’s studying, so I’ll an answer is: given that we were in a severe recession in the early ’80’s and we’ve just study, too.” Sound familiar? And, like her experienced another nasty one following the 2008 downturn, why the big difference? mother, Patti got her teaching degree and Two major economic factors help explain: inflation and prime interest rate. taught grades 4–6 in Merrill for 8 years. And now, Lea and Amanda are teaching Inflation in Marshfield and Green Bay respectively. Guaranteed Inflation Prime Interest In 1980, the average rate of Year And so it continues. Investment Rate (avg.) Rate (average) inflation was a whopping 13.58% compared to -0.34% for 2009. 1980 10.25%* 13.58% 15.85 A good financial move Inflation is the rate at which the From her stack of papers, she pulls out 1981 12.5%* 10.35% 18.50 price of goods and services increases a printed sheet from 1989. It’s from WEA 5.25% 3.85% 4.9 over a period of time. The higher 2008 TSA Trust and has the guaranteed interest the rate of inflation, the lower your 2009 rates listed from 1978 to 1989. When 5.25% -0.34% 3.25 buying power. Leatrice opened a tax-sheltered annuity *Average annual yield (TSA) in 1981, the interest rate was 12%. Prime interest rate She recognized it was a good rate and knew Prime interest rate is an important economic measure that determines what it costs she needed to get started immediately. to borrow money. The prime rate soared to over 20% during the ’80’s recession, while Leatrice remembers discussing it with her since the downturn in 2008, it has remained at 3.25%. In the ’80’s this translated husband. “I said ‘the interest rate is huge into high mortgage rates that peaked at 18%, whereas current mortgage rates have right now. I think I’m going to get into remained below 6%. that.’ He wasn’t so sure we could afford it, and I think he maybe wanted to take a trip Principal and net credited interest are fully guaranteed by Prudential Retirement Insurance

“Their 403(b) savings will be even more important for their retirement than it was for their grandmother’s. Things are changing. More planning is required”

weabenefits.com

and Annuity Company. Such guarantees are based upon the financial strength and claimspaying ability of the insurance company issuing the contract.

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Continued from page 7

was for their grandmother’s. Things are changing. More planning is required.” The Center for Retirement Research at Boston College indicates that there is 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. “Other factors that make their situation different include health insurance costs, increase in the Social Security full benefit age, and a modified benefit calculation for Wisconsin Retirement System which went into effect in 1999,” says Thomas.

It’s time to get started

Her eldest granddaughter, Lea, is beginning her fifth year of teaching. Leatrice came to her with 403(b) enrollment forms after her first year of teaching and encouraged her to start saving. Lea heeded her grandmother’s advice and handed the forms in right away. She’s had her account for three years now. “When I get my statements, I’m like ‘wow.’ It’s impressive, even though I haven’t been able to contribute a lot.” Now that she’s done with her Master’s, she’s ready to start contributing more. Amanda Hilger, the youngest granddaughter, is ready to start saving, too, as she enters her second year of teaching. “It’s time for her to get started,” Leatrice says firmly. Amanda confirms that she’s filled out the forms. Her mother Patti nods approvingly. She regrets her decision not to follow her mother’s advice to open a 403(b). Patti and her husband didn’t think they could afford it. “Mom kept saying to me, Patti,

you should really contribute. And we really should have,” says Patti, who taught for eight years during the peak of the Guaranteed Investment interest rates.

Health is wealth

Leatrice’s kitchen table, aside from a family forum for learning, is the dining headquarters. “Patti lives right across the road, but we eat here.” And their cook? Amanda, the high school family and consumer education teacher. “This is the test kitchen,” beams Leatrice. “Whatever Amanda’s planning to make in class, we try first.” Amanda also tends the garden in her grandmother’s backyard, and Lea and her husband get a weekly box of vegetables from their CSA (Community Supported Agriculture). “We have so many vegetables that we have to eat, eat, eat,” says Leatrice. Together, they have worked toward a healthier lifestyle. “We are all about healthy eating and cooking. There have been too many health problems in the family,” says Patti, “it was time to make a change for the better.” Keep in mind that mutual fund investments are not guaranteed and may gain or lose value. Past performance is no guarantee for future results. Future performance may be lower or higher than past performance. Before investing in any mutual fund, call WEA Trust Member Benefits at 1-800-2794030 to request a prospectus. We advise you to read it carefully and consider the fund’s investment objectives, risks, and charges and expenses carefully before investing. The prospectus contains this and other information about the investment company. TSA program securities offered through WEA Investment Services, Inc., member FINRA.

continued from page 4

when the vehicle is in motion. (However, it always allows access to 911 and a list of authorized phone numbers.) Currently available for Android, Blackberry, iPhone, and many other smartphones. Cost: Starts at $4.95/month or $49.95/year Web site: getizup.com CellControl No smartphone is needed for this technology. CellControl uses a hardware device that is installed in the

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vehicle that communicates with your phone via Bluetooth. When the phone is within range of the hardware in the car, CellControl turns off the use of the phone and texting (except for 911 and authorized phone numbers). (Note: Vehicle must be newer than 1996 to function properly.) Cost: $89.95 for the device (phone activation cost and annual subscription are extra) Web site: cellcontrol.com

{ LEATRICE Leatrice Jorgensen taught for 27 years (including summer school) in the WittenbergBirnamwood School District. “I started teaching third and fourth grades, then for six years I taught remedial reading. After that I taught first grade, which I loved. My first grade classroom was the best classroom in the whole district.” After earning her master’s degree she made the tough decision to take a position as the K-12 reading specialist. “I had a wonderful career, and I’ve been comfortably retired for 20 years. I’m blessed in so many ways.”

{ Patti Patti Hilger is Leatrice’s daughter. Patti taught 4th, 5th, and 6th grades in the Merrill School District for 8 years. She loved teaching but quit to raise their girls and help care for her father who became ill with cancer. Patti adores teaching so much that she still teaches Sunday School. “Once you’re a teacher, you’re never done.”

{ LEA Lea Hanke is beginning her 5th year of teaching in the Marshfield School District. She teaches fourth grade and absolutely loves it. She completed her Master’s degree in May, which lightens her financial load and will allow her to start contributing more to her retirement savings. “I loved school so much that I wanted to go on the weekends. It helped that Mom and Grandma were always talking about how good school is and that teaching is a good profession.”

{ AMANDA Amanda Hilger is starting her second year of teaching high school Family and Consumer Education in the Howard-Suamico School District. She knows it’s time to start planning and saving for retirement. “My grandmother gave me the forms this summer and I finally have them filled out and ready to turn in.” weabenefits.com


{ your questions

Annuitizing:

Go in with eyes wide open “Many insurance companies are pushing for conversion to an annuity, but I have heard financial experts on TV express danger when the word annuities is mentioned. This is of interest to my wife and me because we have been approached by an insurance company to convert. What are the pros and cons of conversion?” –Member Harry Witmer, retired social studies teacher from Marshfield School District

What is an annuity?

Generally, an immediate annuity is an insurance contract between an individual and an insurance company that promises the individual a pre-determined guaranteed monthly income for a predetermined period of time. The period of time is often, but not always, the rest of the individual’s life. However, keep in mind that annuity payouts are calculated based on the life expectancy of the general population, not your own health factors. The most common type of immediate annuity is the Fixed Immediate Annuity. Below are the reasons you may or may not want to convert your retirement account or other assets to an annuity.

Pros

• Guaranteed income for life. • You know your annual rate of return up front. • State government guarantees—to a point. Limits and protections vary from state to state so be sure you know the rules in your state before buying. • Annuities are highly customizable. You can purchase a rider for pretty much any scenario you can think of, including inflation protection, spousal survival, etc. • It’s an easy investment to understand— you pay a lump sum and receive an income stream. weabenefits.com

Cons

• Inflation protection will cost you (as will any other type of rider) by lowering the amount of the fixed payments you receive. • One of the factors used in determining the fixed annuity payment is the interest rate. In our current “low” interest rate environment, purchasing an annuity today will “lock in” these current rates for the duration of the annuity. Even if interest rates rise in the future, this annuity payment is set based on the interest rate used at the time the payment was calculated. • You still have credit risk. There may be state government guarantees, but most are too low to protect your investment completely. • Irreversible consequences. The “income for life” idea sounds enticing, but there may be caveats. Once you annuitize, it is often irreversible—you give up the ability to get your lump sum back or even pass it to other beneficiaries. • Annuities are primarily commissionbased products, often paying up-front commissions of 5% or more to the agent who sells them. Before you invest, ask about the commissions associated with the purchase. • Other administrative fees may apply that will lower the amount of your fixed payments. Again, ask.

Do your due diligence

Because annuities are issued by insurance companies, they are backed by an insurance company’s assets. Check on the financial health of the company you may invest with through ratings agencies such as Moody’s Investors Service and Standard & Poor’s, as well as independent sources such as TheStreetRatings.com. Look for companies with the highest ratings.

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.

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{ your kiosk

Should you cash in on early retirement incentives? Districts are more frequently offering cash as an incentive to retire early. These cash incentives can look very appealing, and often are made just prior to a contractual change in retirement benefits, including health insurance. The need to commit by a deadline adds a sense of urgency and stress. What should you do? Do you take the cash and run? Michelle Slawny, Senior Financial Planner for WEA Trust Member Benefits, suggests you proceed with caution. “Make sure you are making this decision based on all of the factors important to your retirement.” The question is: What impact does retiring early have on your retirement bottom line,

and will the cash incentive make up for what you may lose if you do? Slawny says that in her experience, it is usually better to work longer, even if retirement benefits (cash or health insurance) are reduced. Here’s why. Working an extra year or two will: • Increase your Wisconsin Retirement System (WRS) pension benefit every month for the rest of your life. • Increase your Social Security retirement benefit every month for the rest of your life. • Allow you to contribute more to your retirement savings accounts. • Reduce the number of years you’ll need

FUN FINANCE TRIVIA 1. The average U.S. household has $___ in coins lying around: a. 20 b. 50 c. 90

4. Which term describes the rate at which money circulates? a. Speed b. Velocity c. Gallup

1. c, 2. True, 3. True, 4. b, 5. Martha Washington, 6. c

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2. TRUE or FALSE. The word “buck” came to mean a dollar because a deerskin or buckskin was commonly used as money.

3. TRUE or FALSE. It is illegal for U.S. currency to bear the portrait of someone who is living.

to replace your income. “I even looked at a participant’s situation, assuming that her retirement health insurance benefit would be cut in half. It was still better for her to work two more years because of the impact it had on her pension, social security, and retirement savings. Plus, she would have two fewer years of expenses to worry about,” notes Slawny. 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.

5. Which First Lady was the first to appear on U.S. currency?

6. The ridges on the sides of coins are called: a. Splits b. Strokes c. Reeds

Sources: Coinstar, Inc., edwardjones.com, ustreas.gov, usmint.gov, bankrate.com

weabenefits.com


College Coverage

Q&A

Here is a list of questions we’re commonly asked from parents about how their insurance coverage extends to kids in college. The answers assume you have insurance coverage through WEA Property & Casualty Insurance Company. If your policy is with another provider, call your agent for information about your coverage.

Q:

Does having a child away at college affect my auto insurance?

A:

Yes. If a dependent child is away at school (100 miles or more away from home) without a car, we may be able to adjust the rate for that driver to a lower usage and maybe reduce your premium. The lower rate is based on the idea that the student will only be home during holidays and summertime. If your child has a car at college, give us a call so we can adjust the policy to reflect that the vehicle is garaged in another location.

Q:

Are my child’s belongings covered under my homeowners insurance while they attend college?

A:

Yes. Whether your dependent child is living in a dorm or renting an apartment while attending college, they are covered by your WEA Property & Casualty homeowners policy (up to 10% of the personal property limit in your policy—subject to deductibles and coverages in your policy). For example, if you have $100,000 in personal property coverage, then each student living away from home has the equivalent of $10,000 worth of coverage.

weabenefits.com

Q:

My insured college student left his laptop unattended at the library and it was stolen. Is it covered?

A:

Yes, as long as it‘s a theft and a police report is filed. If, however, the laptop is lost or gets doused with a can of soda, you’ll be out of luck unless you add a rider to your policy. For about $35 a year you can protect the new laptop against additional risks such as loss and damage, and deductibles don’t apply.

Q:

My insured college student and her roommates hosted a party at their off-campus apartment. A guest at the party was injured. Will my homeowners policy provide coverage for the injured person?

A:

There is liability coverage for the actions of your child under your policy (excluding automobile liability and some other specific types of liability). Injuries resulting from the physical condition of the residence outside of your child’s control or actions of a roommate are not covered.

For more answers to your questions call us at 1-800-279-4010 (for personal insurance) or 1-800-279-4030 (for retirement and investment services). Underwritten by WEA Property & Casualty Insurance Company. Subject to eligibility and underwriting requirements.

Wisconsin’s fifth annual Money Smart Week kicks off October 2 and runs through October 9, 2010. All week, communities around the state will host free activities to educate consumers on how to better manage their personal finances. Hundreds of organizations, including banks, schools, colleges, and libraries, are offering approximately 500 educational classes and seminars. Topics include: easy ways to save money, tips for traveling on a budget, basic financial planning, and budgeting tools.

Go to MoneySmartWI.org for a list of classes and events in your area.

40 YEARS

is year, the WEA Trust celebrates 40 years of service to Wisconsin public school districts and your employees. Since 1970, it has been an honor to deliver our mission—promoting the health and financial security to your employees.

Our commitment to provide quality insurance, financial security, and exemplary service to Wisconsin’s public school employees has spoken for itself for 40 years. At this milestone, we remain a strong and stable organization located right here in Wisconsin. We are dedicated to providing solutions and embracing innovations to benefit your district. Our mission, vision, and values, along with our firm commitment to ethics, continue to make us a standout in the health insurance industry.

We look forward to positively impacting the lives of public school employees for many years to come.

To learn more about the Trust’s strengths, choices, and solutions, ask your field representative for a copy of the 2009 annual report, now available.

800.279.4000

weatrust.com

Our commitment to provide quality insurance, financial security, and exemplary service to Wisconsin’s public school employees has spoken for itself for 40 years.

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

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entio v n o C l l a F 0 at 201

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Your$ Magazine -- Fall 2010  

Passing it on: Leatrice’s passion for learning, Texting and driving: Just say no., Year-end deadlines for withdrawals set, Should you cash i...