Wisconsin Coalition of Annuitants

April 15, 2024 Minutes

www.wicoa.org

Meeting called to order by the Chair Diane Wilcenski at 9:31a.m.

DIRECTORS & ALTERNATES PRESENT: Robert Beglinger, AFT-R; Barbara Bird, DOT; James Blank, Bay Lakes United Educators-R; Sandy Drew, SWIB Retiree; Jean Grosklaus, West Allis Retirees; Paul Haubrich, UW Milwaukee Retiree’s Assoc.; Brian Holmes, Epsilon Sigma Phi; Bruce Johnson, SWIB Retiree; Rick Klemme, Epsilon Sigma Phi; Allen Knop, WEAC-Retired; Dick Kratz, WI Retired Corrections Personnel; Kathy Kreul, WFT/AFT Retirees; Jack Lawton, ACE; Dee Pettack, WSAA; Elaine Reiter, Kettle Moraine Retired; SAA; Robert Schaefer, WI Assoc of Retired Conservationists and State Engineering Association; Roger Springman, WFT/AFT Retirees; Jeanne Stangl, Dodge County Area REA; Joe Strohl, Retired Professional Fire Fighters of WI; Jim Thiel, Association of Career Employees Diane Wilcenski, WREA; Rick Wojciak, DNR; Christopher Wren, Wisconsin State Attorneys Association; and wicoa.org

DIRECTORS & ALTERNATES NOT PRESENT: Dave Bosanko, Retired Professional Fire Fighters of WI; Tom Broman, UW Madison Retirement Association; Robert Brooks, Central Wisconsin Center Retirees; Ed Frank, WI Assoc of Retired Conservationists; Tara Leithold, Kettle Moraine Retirees; Lucrecia Mattson, UW-Eau Claire Emeritus; Fred Nepple, OCI; Jim Palmer, WI Professional Police Association Retired; Tom Speranza, Retired Professional Fire Fighters of WI; and Clara Welch, Beloit Area REA

DIRECTORS & ALTERNATES EXCUSED; Willie Backes, AFSCME24; John Maydak, West Allis Retirees;

Roll Call: Taken by Rick

Approval of the March Minutes: Approved as printed with correction noted.

Guest: Chris Preisler, Senior Communications Specialist, SWIB

Performance final returns as of February 29, 2024 Returns on a Five year Basis

Core 1.35% Benchmark 1.13% Core 8.22% Benchmark 7.63%

Variable 5.23% Benchmark 5.00% Variable 11.39% Benchmark 11.54%

Assets Under Management

Core Fund 123.6B Variable Fund 10.1B for a total of 133.7B in retirement funds.

questions.

Portfolio Performance

Public Equities was the only portfolio with a positive return of +5%. All the other portfolios were in the negative. Fixed Income was -1.0%. Real estate was -2.3%.

SWIB is keeping an eye on the Federal Reserve throughout the year to see if they will be making any changes in the interest rate. The Consumer Price Index rose in March 3.5%. At the present time, the equity portfolios are driving the Core Fund’s positive absolute returns. Other issues to keep an eye on are the situation in the Middle East and the upcoming elections.

In March, the SWIB Board of Trustees approved $30M in compensation awards for staff. 263 employees were eligible for awards. The awards were based mainly on investment performance over a five-year period in which $3.1B was generated in net out performance. Jay visited lawmakers and staff at the Capitol to hand out information on these awards.

New Podcast – Episode 27

How SWIB’s Co-Investment Portfolio Benefits the WRS, with Chris Eckerman and Kirk Wolff from SWIB’s Private Equity and Co-Investment Team https://www.swib.state.wi.us/podcasts Control and Click

SWIB is developing a fact sheet with investment philosophy talking points. Feel free to contact Chris with any questions.

GUEST: Tarna Hunter, Director of Budget and Management, ETF 

The 2024 Statement of Benefits distribution is underway.

John Voelker is looking forward to presenting at the Annual WICOA Conference.

The Legislative Session has ended. The Governor signed two bills since we last met. A total of five bills were passed this session which affected ETF.

· 2023 Act 4 – modifications to jailer classification.

· 2023 Act 12 – Provided a pathway for Milwaukee City and Milwaukee County to join the WRS.

· 2023 Act 19 – 2023-2025 Budget Bill.

· 2023 Act 212 – Provides OCI more flexibility in appointments to the Wisconsin Retirement Board. OCI has since named a Deputy Commissioner to the Wisconsin Retirement Board.

· 2023 Act 257 – Made two technical changes that were requested by ETF.

With the 2023 legislative session over, ETF has begun preparing their Biennial Budget Request. They are focused on securing funds for a new Pension Administration System. ETF has signed a contract with a company to assist ETF with the PAS implementation. ETF will need to ask the Legislature for spending authority to provide funding for modernization. Once ETF has a plan in place, they will ask for our support and assistance as WICOA was very helpful last year.

May 23, 2024 – Group Insurance Board Meeting.

June 20, 2024 – ETF Board Meeting (contribution rates for active employees will be discussed).

Eileen Mallow who was the Director of the Office of Strategic Health Policy is retiring after 40 years of service. A succession plan is in place to ensure a smooth transition.

Tarna also thanked us for our involvement in helping with the Customer Experience project.

Public Service Announcement:

Be aware of the politics in your district and state.

Get involved!!!!!!!!!

Correspondence: None

GUEST: Kay Kalvin, Project Manager - Customer Experience, ETF

Kay joined us to explain what they learned from the questionnaires that WICOA members filled out, as well as responses from the survey that was distributed. There were 81 responses. The goal for ETF was to know their customers better. Two personas were developed. One represented a State Employee while the other represented a Local Public Employee. As they reviewed the data, the Customer Experience team was able to understand the client better. This information will be used when developing applications in the modernization process. The team will also work on improving and linking information on their website.

Annual WICOA Conference

The Annual Conference is set to go. It will be on Zoom

May 22, 2024 – 9:30 to Noon: John Voelker, ETF

  Dale Knapp, Trends in Wisconsin’s Workforce

  Closing Remarks – Diane Wilcenski, WCOA President

May 23, 2024 – 9:30 to Noon: Edwin Denson, SWIB

Douglas Poland, Gerrymandering in Wisconsin: Origins,

Challenges and the Governor’s Maps

   Blair Testin Award Presentation

  Closing Remarks – Diane Wilcenski, WCOA President

Old Business:

The Medicare Subcommittee gave an update on their work. Many insights were shared.

Resources for this committee are Ed Weisbart of Physicians for a National Health Program,

Vicki from the Aging and Long-Term Care Board and Arlene from ETF.

Some of the statements that were made are:

Medicare/ Medicare Advantage are very confusing for seniors.

There is a real flow to the way communication is delivered to members of Congress.

Medicare Advantage is damaging rural hospitals. 67 WI hospital systems were rated. Only 8 were given an A rating. 2 of the hospitals with the A rating recently closed due to financial difficulties.

There is an increase of AI making decisions on diagnosis and payments without real doctor input.

Upcoding is a significant problem.

Medicare can’t help settling Medicare Advantage bills.

Medicare Advantage is governed by private companies funded by Medicare

There was a motion to approve the WICOA Medicare Sub-Committee Plan as listed.

Bob Schaefer made a motion. Sandy Drew seconded. Motion passed.

A second motion was made to write a letter to our Wisconsin Delegation in Congress stating our concerns with Medicare Advantage.

Allen Knop made the motion. Brian Holmes seconded. Motion Passed.

We might want to contact people who are running for office to ask what their stand is on Medicare Advantage.

Lunch and Learns will be developed to help get information out to our membership.

Treasurer Report:

The balance as of February 29, 2024, is $7881.33

Receipts $50.00

Expenses $0.00

As of March 31, 2024 the balance is: $7931.33

Treasurer’s report accepted.

There will NOT be a meeting in May.

WIOCA Annual Conference is Wednesday May 22,2024 from 9:30AM until Noon

and Thursday May 23,2024 from 9:30AM until Noon

Next Meeting:

June 17, 2024 at 9:30 AM

Meeting Adjourned at 10:14 AM

Respectfully submitted by Jeanne Stangl, WIOCA Secretary