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Financial Fitness Blog

A quick who’s who for you

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Laura KampsThere is often confusion between WEA Member Benefits and other independent organizations that also serve the Wisconsin education community. We are commonly confused with:

WEA Trust (the Trust) provides group health insurance and other benefits to employers (i.e., your school district). WEA Member Benefits and WEA Trust are two separate organizations that operate independently of one another.
weatrust.com • 800-279-4000

The Wisconsin Retirement System (WRS) provides pension benefits to state workers and is administered by the Wisconsin Department of Employee Trust Funds (ETF).
etf.wi.gov • 877-533-5020

Wisconsin Education Association Council (WEAC) is the public educator’s employee union and advocates for quality education in our public schools.
weac.org • 800-362-8034

Over 45 years ago, WEA Member Benefits was created to provide personal insurance, retirement savings, and financial planning services to Wisconsin public school employees and their families. We provide elective/voluntary benefits to individuals, not groups. 

Our business partners

You may see the following company names on communications related to your retirement accounts.

The Newport Group (previously known as Verisight): Participant letters and check instructions.

MidAtlantic Trust Company (MATC): Tax forms, electronic bank deposits or drafts, and checks.

Laura Kamps, RIS Specialist

IRA 5498 forms on their way

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N'Kenza WhitlowForm 5498 is an informational tax form to be sent at the end of May to all Traditional and/or Roth IRA account holders. The form reports the December 31, 2015, fair market value as well as any contributions, transfers, rollovers, conversions, and/or recharacterizations received in the account for 2015.

Keep an eye on your mailbox for this important form.

N’Kenza Whitlow, Retirement Savings Consultant

Want to improve your financial literacy knowledge?

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Eric SchwartzThe National Institute of Financial and Economic Literacy (NIFEL) offers an annual summer institute series for educators on financial literacy with three courses to choose from:

  • Paychecks, Financial Contracts, and Entrepreneurship
  • Investor Education, Economics, and Insurance
  • Credit and Money

This series can help build your confidence in teaching a wide array of financial topics. Courses are designed for teachers of personal finance, family and consumer sciences, social studies, economics, math, business and others who want to acquire the skills to teach personal finance—financial counselors, tech college faculty, corrections staff and school principals and administrators.

Some scholarships may be available.

Visit edgewood.edu/NIFEL for information and to register.

Eric Schwartz, Financial Planning Specialist