ERS OFFICES ARE CURRENTLY CLOSED TO THE PUBLIC
As a precautionary measure related to the COVID-19 (coronavirus) outbreak, the ERS office is currently closed to the public. All in-person meetings and walk-ins are being cancelled at this time until further notice. If you need assistance, please contact ERS at (414) 286-3557.
Please be advised that the ERS’s daily operations and services are NOT interrupted, including the processing of benefit-related updates and annuity payments. Retirement Counseling Sessions and other meetings are currently being conducted by phone at this time.
Please email us at email@example.com with your questions. Please be advised that responses may be delayed.
Health Insurance Reminders
- NON-MEDICARE MEMBERS: (includes retirees, spouse, and/or dependents): If you have elected or are continuing City of Milwaukee health benefits coverage for 2021, you will receive a new United Healthcare (UHC)/OptumRx card. Contact information for UHC/OptumRx is on the back of your card. Other benefit phone numbers, including UHC/OptumRx are also located on page 20 of the 2021 Retiree Benefits Guide. The ERS does not send out health/prescription drug cards. If you are new to UHC/OptumRx for 2021 and do not receive a new UHC/OptumRx card by December 31st, please contact UHC directly at 1-800-841-4901. Please be advised that updated 2021 premium deductions, if applicable, will go into effect with the December pension payment.
- MEDICARE MEMBERS: If you are continuing City of Milwaukee health benefits coverage and prescription drug coverage through UHC and UHC MedicareRx Part D for 2021, you will not receive a new UHC or UHC MedicareRx Part D cards for 2021. If you are new to UHC and UHC MedicareRx Part D for 2021 you will receive two new cards from UHC. The ERS does not send out health or prescription drug cards to Medicare members. If you do not receive the two cards by December 31, 2020 please contact UHC at 1-800-841-4901 or UHC MedicareRx Part D at 1-866-465-0572. Please be advised that updated 2021 premium deductions, if applicable, will go into effect with the December pension payment.
- MPS, MATC, MMSD, UNITED WATER SERVICES, AND VEOLIA RETIREES: The ERS office does not handle your health insurance. Please do not call ERS with health insurance questions if you retired from one of the above listed agencies. If you have questions or concerns, you should call the agency directly.
- POLICE AND FIRE RETIREES METLIFE VISION/ DENTAL COVERAGE VIA SOURCE ONE (aka the “Retired Public Safety Officers Insurance Premium Deduction Program.”): The ERS office does not administer this benefit. If you have questions or concerns regarding this benefit, please call Source One at 414-220-9900.
Third Quarter Investment Update
The City of Milwaukee Pension Fund had a return of 5.6%, net of fees, in the third quarter of 2020. This return underperformed the Fund’s blended benchmark by 0.4%. Markets continued their rebound off the March lows, as the unemployment rate declined to 7.9%, which is still elevated by historical standards, but much improved from the 14.7% peak in April. The continued rebound in markets led to positive quarterly returns for many of the Fund’s asset classes. Private Equity led the way with a return of 10.7%, net of fees. The Fund’s Public Equity allocation was up 8.1%, Fixed Income was up 2.0%, and the Absolute Return asset class was up 3.9%, all net of fees. The pandemic continued to weigh on Real Estate, which reported a return of -1.4%, net of fees, in the second quarter of 2020, which is the most recent quarterly data available. The market value of the Fund on September 30, 2020 totaled approximately $5.08 billion, and the YTD return was -3.9%, net of fees.
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Other recent news can be found on the most recent newsletter.
Other important information can be found on our Frequently Asked Questions page.