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Accounting and Financial Reporting for Postemployment Benefits Other than Pensions’

The WRS Annual Statement of Benefits will soon be delivered to active employees with WRS contribution balances as of December 31, 2022. Note: All active employees will receive their statement in the mail.

To help prepare you for this change, ETF will deliver a series of live, virtual training opportunities starting on Monday, May 5. Each live, virtual course will have multiple sessions available, including morning and afternoon options.

GASB Statement No 75 reporting. Accounting and Financial Reporting for Post-employment Benefits Other than Pensions

This information is to help employers prepare for the 2023 reconciliation process. Annual reconciliation is a time-sensitive project. Your assistance is required to ensure that your employees’ WRS Annual Statements of Benefits are accurate and complete.

Approximately $7 billion in benefits were paid by the WRS in 2022, based on the Annual Comprehensive Financial Report recently released by ETF.

The deadline for employers to enter benefits applications into the myETF Benefits system is November 15, 2024.

The American Rescue Plan Act of 2021 (ARP) subsidizes the full COBRA premium for “Assistance Eligible Individuals” for periods of coverage from April 1, 2021 through September 30, 2021.

Directions for employers to report their annual reconciliation through the Account Update Application by manually entering an annual transaction for every WRS-eligible employee at your employer.

This is the Model Notice for COBRA Continuation Subsidy under the American Rescue Plan [ARP] Act of 2021. Employers please note that information for qualified beneficiaries must be completed.