Two elections were recently held for seats on the Annuity and Pension Board. Retirees re-elected Thomas Klusman, who out-polled Robert L. Kastern 2,768 to 1,295. Active MPD employees elected James Campbell to fill the seat currently held by Gust Petropoulos. Campbell received 334 votes, compared to 292 for Carmelo Patti. Thanks to everyone who voted.
Both four-year terms begin on January 1, 2018.
Flexible Spending/Health Reimbursement Account Changes and Blackout Period
Benefit Advantage is replacing eflexgroup/TASC and all employee FSA/HRA accounts will transition to Benefit Advantage on December 1, 2017. There will be a black out period leading up to the change from November 15-30 and employees will not be able to use their debit cards or file claims during this period. After December 1, all claims must be filed with Benefit Advantage instead of eflexgroup/TASC and employees will have new Benefit Advantage debit cards to use as well.
More information can be found here.
The City of Milwaukee Pension Fund earned a return of 3.9%, net of fees, in the third quarter of 2017. This return outperformed the Fund’s blended benchmark by 0.3%. GDP growth in the U.S. was sluggish, but still positive, and unemployment remained low. The Fund reported positive returns for all asset classes. Public equity markets across the globe continued their strong performance, recording their eighth consecutive quarter of positive returns. The Fund’s public equity allocation had a 5.6% return for the third quarter, net of fees. The Fund’s fixed income return was 1.2%, net of fees – outperforming the benchmark return of 0.9%. The Fund’s alternative asset classes continued to perform well. Absolute return was up 0.9%, net of fees, in the quarter, and real estate was up 2.0%, net of fees, in the second quarter of 2017, which is the most recent quarterly data available. The market value of the Fund on September 30, 2017 totaled approximately $5.25 billion.
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 2018, you will not 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 17 of the 2018 Retiree Benefits Guide. The ERS does not send out health/prescription drug cards. If you are new to UHC/OptumRx for 2018 and do not receive a new UHC/OptumRx card by December 31st, please contact UHC directly at 1-800-841-4901.
- MEDICARE MEMBERS:If you are continuing City of Milwaukee health benefits coverage and prescription drug coverage through UHC and UHC MedicareRx Part D for 2018, you will not receive a new UHC or UHC MedicareRx Part D cards for 2018. If you are new to UHC and UHC MedicareRx Part D for 2018 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, 2017 please contact UHC at 1-800-841-4901 or UHC MedicareRx Part D at 1-866-465-0572.
- 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.
New Medicare Cards in 2018
It has come to our attention that CMS (the authority that manages Medicare) will be issuing new Medicare cards starting in April 2018. This new card will replace the existing cards you have, and will include a new identity number called the Medicare Beneficiary Identifier (MBI). The MBI will replace the HICN that is currently used (that looks a lot like your social security number). More information about this can be found on CMS's website at www.cms.gov/Medicare/Medicare.html. Your benefits will not be impacted with this change.
Your Deferred Compensation account is managed by Voya. You can contact them through their website; www.milwaukeedcp.com, call them at 844-360-6327 or visit their office at 10700 W. Research Dr, Suite 190, Mayfair Woods at Research Park, Milwaukee, WI 53226.
Check out the Rest of our Website
You are a member of the ERS, and membership has its privileges. One of those privileges is access to the portion of our website that is all about you. We call it ERS Member Self Service. Click here for more details.
Other recent news can be found on the most recent newsletter.
Other important information can be found on our Frequently Asked Questions page.