™

2016 FALL

A magazine from WEA Member Benefits

your investmentINVESTMENT SPOTLIGHT shines on the Prudential Guaranteed Investment

your insuranceThinking about a condo? Protect your investment

your kioskAre you leaving money on the table?New eBook resource available

Molly Walsh Anderson shares insights that helped start her

career on solid financial ground.

}You got this!

2 weabenefits.comweabenefits.com

© 2016 WEA Member Benefit Trust.All rights reserved.

Follow us.

3 YOUR ACCOUNT- Start your school year out right.- Don’t miss important financial

deadlines.- Avoid tax problems on contribution

limits.- Guaranteed Rate announced soon.

4 YOUR RETIREMENT- Lessons from second year teacher

Molly Walsh Anderson can help young educators navigate new financial realities and responsibilities.

6 YOUR INVESTMENT- Get to know the Prudential

Guaranteed Investment.

main red

PMS 1795CC0 M96 Y90 K2

YOUTUBE LOGO SPECS

PRINTgradient bottom

PMS 1815CC13 M96 Y81 K54

on dark backgroundson light backgrounds

standard

no gradients

watermark

stacked logo (for sharing only)

standard

no gradients

watermark

stacked logo (for sharing only)

white

WHITEC0 M0 Y0 K0

black

BLACKC100 M100 Y100 K100

Learning opportunities are best shared with othersDo you remember

when you started your career and how much you learned in just that first year? I bet there are still lessons from that time you find valuable today.

Molly Walsh Anderson is just

starting her second year of teaching and she has some great insights from her experience that can help new teachers navigate their recently acquired financial responsibilities.

We think sharing financial knowledge is so important that we like to recognize individuals who mentor others to become financially secure. Read about our 2016 Mentor Award winners on page 10.

In this issue, we highlight the Prudential Guaranteed Investment—what it is and what it isn’t—and the role it plays in your investment lineup. This is a prequel to our upcoming January issue, when we share an overview of our mutual fund choices and help you understand some basic principles about how to analyze investments so you can feel confident about your choices.

Whether you’re a new educator or you know one, you’ll want to download a copy of our newest eBook on money-saving

tips that can help younger folks gain some financial confidence. Find the link and more information on page 11.

Finally, read about our four scholarship winners who attended the National Institute of Financial and Economic Literacy (NIFEL) Summer Institute financial literacy courses. Find out what great information this year’s participants picked up and how they plan to pass on the knowledge to their students on page 11. You might be inspired to attend next year.

8

6

4

™

CONTENTS FALL 2016{your$™

8 YOUR INSURANCE- We have a breakdown of typical

coverages condo owners need.

10 YOUR KIOSK- Don’t leave money on the table!- Kudos to our Financial Mentor Award

and NIFEL scholarship winners.- New resource for young educators.

president’s letterDave Kijek, President/CEO, WEA Member Benefits™{

weabenefits.com 3

{ your account

Have a story to tell or article suggestion?Send an e-mail to memberbenefits@weabenefits.com. Type “your$” into the subject line.

IRA and 403(b) newsStart the school year out rightThe start of a new school year is a good time to take a look at your retirement account. You may want to:

• Complete a new Salary Reduction Agreement (SRA) to increase your contribution.

• Review beneficiaries. If you’ve experienced any life events (marriage, divorce, birth of a child, death of a family member, etc.), it’s time to update your beneficiaries. Beneficiaries named on your retirement account supersede your will.

• Update your address, review your portfolio, and change your investment allocation.

Deadlines are coming up before you know it403(b) and IRA exchanges/transfers/rolloversExchanges, transfers, and rollovers require a longer processing time. Your completed paperwork (including approved third-party administrator transaction authorization if applicable) will be submitted to the payer company by the end of December if we receive it by December 10. This includes requests for IRA recharacterizations and conversions. Call us if you have any questions. We’re happy to help you through the process.

Postdated checksWe are not able to accept IRA contribution checks written and received this tax year (2016) for next tax year (2017). Postdated checks will be returned.

Year-end withdrawal deadlinesIf you would like to take a lump sum withdrawal from your 403(b) or IRA accounts before the end of 2016, your request must be received by us on or before December 16. Requests received after this date may not be processed before year-end.

Avoid tax problems on contribution limitsThe end of the year is closing in...watch your contribution limits! Contribution limits for 403(b) accounts are $18,000 for 2016; however, employees age 50 and older can contribute an additional $6,000 for a total of $24,000 per year. It’s up to the participant (not the employer) to pay attention to limits. Give us a call if you need assistance. Learn more at weabenefits.com/limits.

Content in this magazine is for informational purposes only and is not intended to constitute legal, financial, or tax advice. Certain recommendations or guidelines may not be appropriate for everyone. Consult your personal advisor or attorney for advice specific to your unique circumstances before taking action.

The Trustee Custodian for the WEAC IRA accounts is Newport Trust Company. The 403(b) retirement program is offered by the WEA TSA Trust. TSA program registered representatives are licensed through WEA Investment Services, Inc., member FINRA.

The Prudential Guaranteed Investment credited rate of return for 2017 will be announced on October 28.

Go to weabenefits.com or call 1-800-279-4030 to listen to a recorded announcement.

The Prudential fact sheet and a Q&A regarding the current Prudential Guaranteed Investment contract will also be available on October 28 at weabenefits.com/pru.

See page 6 for more information about the Prudential Guaranteed Investment and how it fits into your investment strategy.

We will be closed:

Thanksgiving—Nov. 24–25

Christmas—Dec. 23 and 26

New Year’s Day—Jan. 2

To be announced

PrudentialGuaranteed Investment

2017

{

4 weabenefits.com

{ your retirement

4

Every teacher knows the many important things they learned during their early years of teaching. Those lessons are valuable pieces of earned wisdom that help shape an entire career.

That is certainly true for newly minted teacher Molly Walsh Anderson, who spoke with us this summer about her first full year of teaching. “That first year was challenging. There were brand new experiences from the first day of school to the last. And so much to manage. Not only making sure I was doing what I needed to do every day in the classroom, but other things that teachers do, like starting my PDP, educator effectiveness, and all that comes along with it.”

And then there’s the financial transition from student to workplace. “There are a lot of new financial things to deal with once you’ve graduated and are in the real world. That’s been a challenge on its own.

“To manage it all and still have a life…well, there was lots of learning to do.”

Learn she did. And being the dedicated educator that she is, Molly likes to pass on what she’s learned to help others. Here are four lessons she learned during her first year that have helped her navigate new financial realities and responsibilities.

1. Know your student loansStudent loans are probably the biggest

economic issue for Millennials like Molly. “I took student loans, but when you’re in college you’re hardly even thinking about them because you’re like, ‘Oh, I’ll just pay them eventually.’”

One of Molly’s last acts as a student was going through an exit counseling session. “It was eye opening. They said, ‘To pay off the amount of loans you’ve taken, you need to make “this much money” a year.’

But I’m a teacher and I won’t make that much!”

Lack of understanding about student loans is not unusual according

to research released in April. Results indicated that 59% of Millennials with student debt don’t know how long it’s going to take them to become debt-free and 37% don’t know the interest rate they’re paying. But in hindsight, 57% regret how much they’ve borrowed. (Source: Forbes.)

“If you have student loans, learn about them. It can be tricky to figure out but investing the time to understand them is really worth it. Remember—you’ll need to manage your loans on top of everything else you have when you graduate and are in the ‘real world.’”

Tips for managing student loans.• Take the time to understand your loans

so you are prepared when it comes time to balance out all of your new

financial obligations after you graduate.

• It may sound counterintuitive, but make payments while in school

if you can. Any amount you can throw at your loan will reduce what you owe.

• Find out if you’re eligible for student loan refinancing and consolidation to lower your interest rate. Note: You should never be charged a fee to consolidate!

• Check into student loan forgiveness programs for educators.

• Set up automatic monthly payments. It could reduce your

interest rate by up to 0.25%.

You got this!This new educator shares four insights that helped start her career on solid financial ground.

Student Loans

Insurance

Budget

Planning

RetirementSavings

weabenefits.com

weabenefits.com 55

Continued on page 9

2. Plan ahead...way ahead“Not only do you need to think about

student loans, but you need to think about your retirement.

“I participated in Member Benefits’ Don’t Be JackTM game through the Aspiring Educators group when I was a sophomore in college. Playing the game opened my eyes to a lot of things that I needed to be prepared for. It got me thinking about my future. So when I graduated, I opened a retirement account because the game showed that if you start right away and even if you only put a little bit away, that’s going to help you much more in the long run than if you wait.”

Time is your ally when it comes to savings. The sooner you start, the more time your investments have to grow due to compounding, making it less costly and less painful to achieve financial security.

“Teachers I talk to who have been in five or ten years all say, ‘I wish I would have started saving for retirement right away because now I’m playing catch up.’ I’m not putting that much money into my retirement every month, but I know it’s going to make a big difference later.”

Start early even with a little.If you are skeptical about how saving a small amount can add up to big savings, check out the compound interest calcula-tor at weabenefits.com/calculator.Don’t pass on a match.If your district offers a match to employ-ees for 403(b) contributions, it can help you build up your savings faster. A match is free money! Make saving automatic. Using payroll deduction or auto deduction from your bank or credit union account to make contributions is an easy way to make saving a habit. It’s good for budget-ing, too. Keep fees low.Lower fees will keep more of your money working for you. Learn more about fees in 403(b) and IRA saving programs at weabenefits.com/fees.

3. Don’t do it all by yourself“The first year is overwhelming in so

many ways, but there are people and resources to help you succeed. I had wonderful staff and teammates at my school who made my first year of teaching a great experience. Knowing there were people and resources to help me made all the difference.

“And the support my husband and I got from Member Benefits’ staff was incredibly helpful financially because it got us started with saving as well as protecting our possessions.

“We bought a house and it was our

first time getting insurance so we shopped around. But in the end, it was easy to go with Member Benefits because not only was the coverage what we needed but the other people we talked to were not nearly as helpful or personal. That really stood out.

“And, there’s no pressure. It’s just, ‘Here’s the information. Look at it, think it over, and we’ll be here to help you if you need it.’ That’s really nice, especially when you’re a new teacher and you have 80 million other things pressuring you. You have a little time to breathe when you know people are there just to help and listen.

“They also offer financial planning services. We haven’t taken advantage of it yet, but it’s definitely something we’ll be doing. With the house, combining our finances, and moving on in life, getting a plan will be important.”

Find and use trusted resources.Knowing you have someplace or someone to go to for support can make all the difference. Wisconsin public school employees have a financial partner in Member Benefits—the programs and services are designed exclusively for Wisconsin educators.

Be well (financially).Professional satisfaction and success is influenced by many factors including financial wellness. Financial pressures and stress impact our health, workplace productivity, and happiness. Get help for free.Wisconsin public school employees can get a free one-hour financial consultation with one of our financial planners to evaluate their situation, help them set goals, and create a plan for a secure financial future.

4. Pay it forwardIn true educator fashion, Molly is happy

to share her experiences and what she’s learned to help others launch their careers on solid footing, whether it’s advice for classroom success or financial tips.

“The Don’t Be Jack game really helped me get prepared to deal with financial issues after college. I loved it. When I was state president for the

Aspiring Educators, I made sure the game was offered again at a seminar I planned for that group. They needed to know what to expect post graduation and what resources are available to help.

“Member Benefits was highly recommended to me by my parents, and now I’m recommending them, too. A colleague who was buying a house last year was looking for insurance and I said, ‘Look at Member Benefits because they’re here to help us as teachers.’”

Be a financial mentor.You don’t need to be an expert to have a positive impact on someone’s financial future. A financial mentor: • Shares their experiences—the

successes, failures, and regrets—with others to help them make sound financial decisions.

• Encourages others to take steps to improve their financial health like saving early.

• Tells them about the valuable resources available at Member Benefits.

“There are a lot of new financial things to deal with once you’ve graduated and are in the real world. To manage it all and still have a life…well, there was lots of learning to do.”

weabenefits.com 5

6 weabenefits.com

{ your investment

D oes the idea of choosing investments make you feel nervous, lost, or intimidated? For many

looking to build financial security by opening a 403(b) or IRA account, deciding how to invest their dollars can put the brakes on the process. “It’s often a source of uncertainty and frustration,” says Brenda Echeverria, Financial Planner at WEA Member Benefits. “The world of investing can seem overly complicated and there are so many choices. People don’t know where to begin or how to evaluate investment options,” she adds.

When less is moreWe live in a society that values choice.

But studies show there is such a thing as too many choices, especially with things you don’t know much about. For those who are just starting to entertain the idea of investing or who have little interest in becoming an expert, too many choices can

be paralyzing.“Member Benefits strives to make

choosing investments easy for Wisconsin public school employees and their families,” says Brenda. “We’ve done a lot of the leg work for you, weeding through thousands of investment options to provide you with a manageable selection.”

The current lineup of 24 investments includes one fixed income option, a stable value fund, and 22 mutual funds (five of which are target retirement funds). Each fund is vetted through a strict investment process based on factors such as historical performance and operating expenses. Our selections provide you with enough choices in asset classes to satisfy different investment styles and objectives as well as levels of risk so that you can create a diversified portfolio—an important part of any investment strategy.

Get to know our optionsPicking investments—even from a small

Investment spotlightPRUDENTIAL GUARANTEED INVESTMENT

FUND CATEGORY: FIXED INCOME

RISK/RETURN TRADE-OFF: LOW RISK/LOW RETURN

list—requires some basic knowledge. “At Member Benefits, financial education is central to what we do. You don’t need to be an expert, but understanding basic principles about how to analyze an investment can help you make wise choices and feel confident about it,” Brenda says.

In our January 2017 issue of your$, we’ll help you learn more about these principles. Look for a special pullout section that will break down the mutual funds in our lineup to show the objectives and style, the role they play in a portfolio, and other important considerations for choosing investments.

As a prequel to our upcoming issue, we shine a spotlight on the Prudential Guaranteed Investment (PGI). Not only was it the very first investment offered in our 403(b) program, but the PGI is really in a class all by itself. With the 2017 rate announcement scheduled for later this month, it seems an appropriate place to start.

weabenefits.com 7

It’s all relativeIf you were an educator in the 1980s

participating in our 403(b) program, you likely enjoyed opening your statements each quarter. In 1982, the program hit an all-time high annual yield of 14.5%. Yes, that’s right—14.5%. But you may also remember that interest rates for borrowing money were sky high. Mortgage rates soared to 18.45% in October of 1981.

What’s the point of this trip down memory lane? It’s a lesson in relativity.

When the cost to borrow money is high, the PGI follows a similar trend. When money is cheap, the PGI tends to trend that way as well. For the better part of a decade, mortgage rates have been hovering around 3%. In 2016, the PGI annual credited rate is 3.8%.

With the PGI, low is high“While 3.8% is a far cry from 14.5% for

the PGI, it’s a competitive rate compared to other low-risk options,” Brenda said.

At the time of this writing (September 16, 2016), most banks are paying less than 1% on savings accounts. Certificates of deposits (CDs) are not paying much more—an average five-year CD is at 1.65%. Money is cheap right now whether you’re buying or selling. As a borrower, it’s great. As a saver (who is essentially lending money to the bank), not so good.

If you do find a fixed income investment that offers a better rate, beware of any potential downsides and approach with

caution, Brenda advises. “Check the fees. If there are surrender fees, you lose the flexibility of having access to your money

without penalty.” Also, look at the investments within the fund and be aware of the impact market fluctuations might have on the rate. Remember, bonds traded on the open market are still vulnerable to market volatility.

Best when mixedFor those not comfortable investing in

the stock market, the PGI is a good tool to protect against short-term volatility.

However, it may be too conservative on its own to get you where you want to be financially. While it may seem like a safe bet to put everything you have in the PGI, doing so may mean you have to save more or work longer (depending on your age and other investments) in order to reach your financial goals.

Instead, most allocation models call for diversification—an investment strategy that mixes a wide variety of investments within a portfolio. When you diversify, your individual investments are unlikely to all move up and down at the same time or rate. This leads to more consistent performance under a wide range of economic conditions, increasing your chance of higher returns over time while reducing your level of risk.

For more information about the PGI, go to weabenefits.com/pru.

PRUDENTIAL GUARANTEED INVESTMENT

Name: Prudential Guaranteed Investment (PGI).

Fund category: Fixed income.

Fund risk/return trade-off: Low risk, low return.

Fund holdings: Commercial mortgages, private placement bonds, publicly traded debt instruments, and asset-backed securities.

Fund objective: To maximize the long-term rate of return consistent with insuring the safety of invested assets (principal). By carefully structuring a portfolio of commercial mortgages plus privately placed and publicly traded debt securities, the portfolio manager seeks to achieve higher yields than are available from public offerings, as well as an essential degree of liquidity.

This article is for informational purposes only and is not intended to constitute legal, financial, or tax advice. Certain recommendations or guidelines may not be appropriate for everyone. Consult your personal advisor or attorney for advice specific to your unique circumstances before taking action. *Interest is compounded daily to produce the current annual yield prior to the deduction of program administrative fees. Contributions and earnings are held in the general account of Prudential Retirement Insurance and Annuity Company (PRIAC). Principal and net credited interest are fully guaranteed by PRIAC. Such guarantees are based solely upon the financial strength and claims-paying ability of PRIAC. For more information go to weabenefits.com/pru.

About the PGIThe Prudential Guaranteed Investment

(PGI)* is classified as a “fixed income” option. A fixed income investment pays regular income interest at a rate known in advance.It is not a mutual fund

but a group insurance contract that guarantees the principal and

interest.

The PGI is suitable for long-term investors looking for a fixed income investment in their allocation mix because it’s a relatively conservative investment with a low degree of risk. How much you invest in a fixed income investment like this depends on your goals and timeline (age), among other things.

History lessonIn 1978, the WEA TSA Trust rolled

out the guaranteed investment account to Wisconsin public school employees as a 403(b) investment opportunity—the first and only investment option in the program at the time.

Today, approximately 35,000 participants have nearly $2.3 billion worth of assets in this account that is held and managed by Prudential Retirement Insurance and Annuity Company (PRIAC).

An equity alternativeThe PGI is primarily

backed by bonds, commercial mortgages, and privately placed and publicly traded debt securities, which are essentially loans, in Prudential’s General Account. Because members receive a stated interest rate, their accounts do not react to the day-to-day volatility of the stock market.

Think about the impact that events like Brexit, a major election, or the release of unemployment or consumer spending statistics have on the stock market. The PGI is not affected in the same way by these types of events, which makes it a nice counter balance to stocks in a portfolio.

weabenefits.com

8 weabenefits.com

{ your insurance

Your liabilityLiability coverage is an important part

of your insurance policy, covering you for claims involving bodily injury that could happen within your residence, injury away from home, and property damage.

Condo owners usually don’t have to worry about liability claims that may be made from incidents on the land around their home or items such as community pools and playground equipment.

Make sure you’re covered now and later

Condo owners must review the most updated version of their bylaws to adjust for any changes in coverage responsibility. That makes it even more important for you to perform an annual insurance checkup.

We can help determine the appropriate level of protection for you or review your current coverage. Call one of our consultants at 1-800-279-4010 for a free insurance consultation and comparison quote.

Property and casualty insurance programs are underwritten by WEA Property & Casualty Insurance Company. The terms and conditions of your coverage are exclusively controlled by your written policy. Please refer to your policy for details.

Is condo living in your future?

Condo living is increasing in popularity among empty nesters and young families alike. If you’re planning to make a condo your home, make sure you take steps to protect your investment.

Insurance needs for condo owners are different than the typical single family homeowner because you are sharing the structure and common areas with other owners. Know what your responsibilities are before shopping for insurance. Here’s a breakdown of typical coverages you’ll need.

Your dwellingEach condo owner is typically

responsible for insuring their physical unit. Your dwelling coverage includes everything within the unit’s walls or structural items. Structural items include anything that is physically attached to the unit such as drywall, countertops, flooring, lighting, and cabinetry.

Upgrades or improvements you make, such as putting in granite countertops and stainless steel appliances, will need to be accounted for in your coverage.

Determining the amount of insurance needed to cover the cost of rebuilding it can be tricky. Start by asking your realtor, condo builder, or condo association the price per square foot to rebuild your

unit, then you can make any necessary adjustments based on upgrades to come up with appropriate coverage.

Outside of your physical unit, there may be “common areas” such as building exteriors and swimming pools that fall under your condo association insurance. The association collects dues from unit owners and uses a portion of these funds to insure common areas.

The condo association’s bylaws will spell out which parts of the complex are insured through association dues and what you are individually responsible for. These rules vary from complex to complex, so it’s important to read and understand these coverages.

Your personal propertyPersonal property coverage protects

personal possessions such as furniture, jewelry, electronics, clothing, and collectibles.

Take a personal property inventory to help you determine your coverage needs. Start by documenting the total original cost and estimated present value of your personal possessions. Consider additional coverage for valuable items such as jewelry or art. You can find more information and a home inventory form at weabenefits.com/inventory.

weabenefits.com 9

Continued from page 5

START

START

START

START

403(b)

IRA

403(b)

403(b)

IRA

IRA

Molly learned a lot with the Don’t Be Jack game—you can, too.

Member Benefits puts a fun twist on financial education with our Don’t Be Jack interactive board game. Teams compete while they learn about the advantages or consequences of certain financial actions. It’s a great way to learn about financial issues that impact Wisconsin public school employees.

Learn more and request a game for your district by visiting weabenefits.com/dontbejack.

Meet MollyMolly Walsh Anderson is a second year teacher at Orchard Ridge

Elementary School in Madison. She couldn’t be happier about the outcomes of her first teaching efforts. “Last year was a great year. I had never taught second grade before. But I ended up loving it, loving the age, and loving my kids!”

Molly’s inspirations“My dad was a teacher. Visiting his classroom in Stoughton when I was younger

really sparked my interest in teaching. When he left teaching to work for WEAC, I was sad he wasn’t teaching anymore, but I followed in his footsteps in two ways—I went into education and I became the state president of Aspiring Educators. I continue to be actively involved in the union. I’m very proud to be a union member.

“When I was young, I idolized the lifeguards and swim instructors at my neighborhood pool. Later, I became one of those as well and still manage a pool in the summer when I’m not teaching. So I’ve been around kids and families all my life and I love it.”

Classroom success “There were many great moments during my first year of teaching, but one really

made me smile. We hadn’t had any real breaks since school started, so it was a long couple of months we were in school and we covered a lot in class. Other teachers told me, ‘You know, winter break is great, but when you get back you never know what the kids are going to retain.’

“That made me a little nervous. But when my kids came back they were remembering things and talking about what we did before break and I thought, ‘This is great. You were listening! You were paying attention!’ The consistency and structure I had strived to create in my classroom worked, so it was really fun to see that we were able to pick right up where we left off.”

Finding balanceMolly was a substitute teacher in Beloit before she was hired to teach second

grade in Madison. “I was driving back and forth from Madison to Beloit a lot. It was a really hard time for me. I was living and breathing work all the time and it was stressful. I learned from that experience the importance of work and home life balance. I got married this summer to my husband Evan and we bought our first home in Madison. It’s important for me to spend time together with him and with family.

“So I really work hard to get things done at school so I can go home and enjoy my time, and then go back the next day refreshed and focused for the kids.”

Biggest takeaway “Now that I’ve gone through my first year of teaching, I can look back on it and

say, ‘This part didn’t work so well, so now I’m going to teach it a different way. Or, I want to change this up a little.’ I’m really happy and lucky to be teaching second grade again so I can refine what I’m doing in the classroom to help my students learn.”

9

10 weabenefits.com

Winners of the Financial Mentor AwardOur 2016 Mentor Award winners have been

recommended by their peers as champions of education who take the time to mentor their

colleagues on good financial planning and saving for retirement. The nominators were passionate in their

praise of this year’s winners. Phrases like, “It is with great respect and without hesitation that I nominate…” were

common in the responses we received for mentor recommendations.

They went on to explain that their mentor:“...takes time to talk to new employees to

help them start saving early.”“...not only helps me individually, but works

hard to save our district money.”“...is generous and knowledgeable to teachers and students.”“…goes the marathon mile when it comes to educating and encouraging the

staff on their financial fitness.”The quotes speak for themselves! Congratulations to these exceptional

financial advocates. You are appreciated for what you do.

Del DebergMelrose-Mindoro

Sean FieldsGreen Bay

Derek HaroldsonIola-Scandinavia

Paul MartellElkhorn

Are you leaving money on the table?

{ your kiosk

If your employer (or your spouse’s employer) offers a match in your 403(b) or 401(k) plan, take it. It’s free money.

While matching contributions have been popular in the private sector for years, it is a fairly new trend in benefits offered by Wisconsin public schools. More and more districts are offering a match to incent staff to save for retirement and to make their employee benefits package more attractive to potential recruits as well as veteran staff.

Let’s lay it out for youThe match varies from employer to

employer. It might be 50 cents or a dollar for every dollar you contribute up to a set maximum—perhaps 3% to 6% of your salary—or in some cases, a dollar limit.

Matching funds usually vest over time,

meaning the matched funds aren’t all yours until you’ve completed the vesting period—typically three to five years. Once you’re fully vested, you can take the entire employer match with you should you part ways. However, if you leave before you’re fully vested, you may get to keep only a portion of the match or maybe none at all. It depends on the employer plan.

But, all the money you contributed is still yours.

Don’t leave money behindIronically, this benefit is underutilized

and many employees are leaving money on the table. With continued changes to post-employment benefit packages in both the private and public sectors, employees will need to rely more on personal savings to fund retirement. Do it the easy way. Never pass up the opportunity to get free money from a match.

As an added bonus, the match effectively increases your income without increasing your tax bill, since you pay no taxes on matching contributions until you withdraw them in retirement.

Contact your district todayCheck with your district’s business

office or benefits department to see if your district offers a matching or vesting opportunity. If your district offers the benefit and you qualify, be sure to take advantage of it.

Have more questions about matching and vesting in your 403(b) account? Give us a call at 1-800-279-4030.

Joanna RizzottoSouth Milwaukee

Matthew RobischRib Lake

Andy SalounWestfield

Ann SwentyTomahawk

weabenefits.com 11

...for young educators If you’re a recent grad or young

educator (or you know someone who is), you may be feeling overwhelmed by new responsibilities and financial obligations. The good news: Member Benefits can help you lessen your anxiety and gain more financial confidence.

Take advantage of our new online resource, Educator’s Guide: 10 Money-Saving Tips New Teachers Want to Know.

It can be difficult to juggle rent, utilities, transportation, student loan payments, food, and every once in a while...a night out with friends. Our eBook can help you find some balance.

• Get smart with helpful financial tips and surprising facts.

• Find free resources you can use right away to help you plan and learn.

• Read about real life financial challenges and solutions from other young teachers.

Download the guide at weabenefits.com/10tips.

Member Benefits supports Wisconsin educators because they never want to stop learningEducators receive financial literacy scholarships

Member Benefits was pleased to award four Wisconsin educators scholarships to attend the National Institute of Financial and Economic Literacy (NIFEL) Summer Institute financial literacy courses.

The NIFEL program provides in-depth discussions, practical exercises, and knowledgeable speakers to assist educators with teaching personal finance topics. The attendees learn how to pass these lessons on to their students through interactive software, experienced-based activities, and modernized curriculum.

Award winners were:

Emily BartelsBusiness Education Teacher Monroe High School

“I will be using a lot of what I learned for a financial class I’ll be teaching called On Your Own, which covers topics like buying a car and renting an apartment.” Emily has attended every NIFEL class offered and has found the retirement planning information personally valuable.

Vanessa Kirk Business Teacher Badger High School

Vanessa plans to share the lessons she learned about how to enter the job market and what workplace expectations are with the students in her Employability Skills

class. She also loved the various teaching methods gained through the course and plans to use them to assist her students in understanding personal finance and entrepreneurship.

Christie Klun Business Teacher Arrowhead Union High School

“The history of money through videos, discussions, and readings will be useful for the AP Microeconomics course I teach. These are all real life examples applicable to students regardless of the career path chosen.” In addition to the resources and training she received, “The knowledge and information attained gets me re-energized to begin the upcoming school year!”

Stephanie Younger Marketing/Business Teacher Appleton East High School

Stephanie appreciated the case studies from real Wisconsin families with real financial problems. “I plan to introduce the First Generation lesson that they taught to us in class to walk my students through the college admissions process.” She highly recommends the NIFEL program to others “because the people you network with, the information you learn, and the resources that are shared is beyond what you expect!”

New resource

11

PO Box 7893, Madison, WI 53707-7893

Property and casualty insurance programs are underwritten by WEA Property & Casualty Insurance Company. The terms and conditions of your coverage are exclusively controlled by your written policy. Please refer to your policy for details. Certain policy exclusions and limitations may apply.

HOME POLICY

Guaranteed Replacement CostIf your home was built in 1950 or later, we will pay the full cost to repair or replace your home with materials of like kind and quality without the limits imposed by most other insurers.Extended Replacement Cost for homes built before 1950 allows for up to 125% of the dwelling limit on your policy. (Certain restrictions may apply.)

offer this kind of protection?

Does your

Call 1-800-279-4010

Call for an insurance evaluation and comparison quote.

homequickquoteweabenefits.com/

LOSS ON SCHOOL PREMISES• $2,000 coverage for loss of

personal property at school —regardless of cause. No deductible!

LOSS OF PREP MATERIALS• $500 coverage for stolen or

damaged prep materials for classroom-related activities. No deductible!