your$2019FALL

your money, a magazine from WEA Member Benefits™

}your privacyPreventing identity theft isn't foolproof, but you can reduce your risk

your benefitsNew school this year? Don't forget your 403(b)

your kioskIdeas for required minimum distributions

Empty Nesting 101: College kids and your insurance

Your biggest investment needs the right insurance coverage. Are you and your family properly protected against financial loss?

Protecting your

LARGEST investment

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CONTENTS FALL 2019{your$™

president’s letterDave Kijek, President/CEO, WEA Member Benefits™{

8

Properly protecting against the unexpectedA basic definition

of insurance is "the business of insuring persons or property" with the purpose of "providing protection against an unforseen event."

Protection is key, especially when

it relates to home insurance. Home insurance is meant to protect what is likely your largest investment. It helps cover you financially when something happens to your house or your belongings. But it also helps protect the

people who live in it. It's important to understand what you

need to consider so you can have the appropriate amount of coverage on your policy. We help you sort it out and offer resources to help.

Protecting yourself from identity theft is something we all need to be vigilant of, but it can be difficult to know what to share and when. We provide some guidance on reducing your risk and steps to take if you become a victim.

And don't forget to protect your future. If you started at a new school this year, don't forget about your 403(b). If you want to continue to fund your

retirement savings, you'll need to set up a new 403(b) with your district.

This summer, WEA Member Benefits Foundation, Inc., along with WEA Member Benefits, held a celebration to honor the winners of our fourth annual Student Art Contest. Learn more about how you can support our talented Wisconsin students on page 10.

Lastly, be sure to read our kiosk section to pick up ideas for what to do with your required minimum distributions from a retirement account, review how to insure your college student, and gather quick tips on saving for retirement as you start the new school year. Have a great year!

3 YOUR ACCOUNT- Time for a retirement account

review.- Important dates for your calendar.- Watch contribution limits.- TBA: Prudential Guaranteed Rate.- Mutual fund change.

4 YOUR INSURANCE- Have you properly protected your

biggest investment?

6 YOUR PRIVACY- Deter, detect, defend: The three Ds

of preventing identity theft.

8 YOUR BENEFITS- New school? New 403(b).

10 YOUR KIOSK- Celebrating student art winners.- Looking for ideas on how to spend

your RMD? We have a few.- College kids and your insurance.- Back to school, back to saving.- Save with our winter layup program.

4

Don't forget your 403(b)

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{ your accountIRA and 403(b) newsTime to review your retirement accountStart the new school year with a review of your retirement account. You may want to:• Increase your 403(b) contributions by completing a new Salary

Reduction Agreement. • Review and update your beneficiaries, especially if you’ve experienced

any life events (marriage, divorce, birth of a child, death of a family member, etc.). It’s important to note that beneficiaries named on your retirement account supersede your will.

• Update your address, review your portfolio, and rebalance your investment allocation.

Visit yourMONEY online to review your account or call us at 1-800-279-4030.

Important dates for your calendar403(b) and IRA exchanges/transfers/rollovers Exchanges, transfers, and rollovers require significant processing time. Your completed paperwork (including approved third-party administrator transaction authorization, if applicable) will be submitted to the payer company by the end of December if we receive it by December 6. This includes requests for IRA conversions. Call us if you have any questions. We’re happy to help you through the process.Postdated checks We are unable to accept IRA contribution checks written and received this tax year (2019) for next tax year (2020). Postdated checks will be returned.Year-end withdrawal deadlines If you would like to take a lump sum withdrawal from your 403(b) or IRA accounts before the end of 2019, your completed request (including third-party administration transaction authorization, if applicable) must be received by us on or before December 13. Requests received after this date may not be processed before year-end.

Watch your contribution limits…year-end is closing inEmployee contribution limits for 403(b) accounts are $19,000 for 2019; however, employees age 50 and older can contribute an additional $6,000 for a total of $25,000 per year. Give us a call if you need assistance. Learn more at weabenefits.com/limits.

Content in this magazine is for informational purposes only and is not intended to constitute legal, financial, or tax advice. Certain recommendations or guidelines may not be appropriate for everyone. Consult your personal advisor or attorney for advice specific to your unique circumstances before taking action.The Trustee Custodian for the WEA Member Benefits IRA accounts is Newport Trust Company. The 403(b) retirement program is offered by the WEA TSA Trust. TSA program registered representatives are licensed through WEA Investment Services, Inc., member FINRA.If you choose to invest in the 403(b) or IRA programs, fees will apply. Consider all expenses before investing. Mutual fund management and redemption fees may apply.*Interest is compounded daily to produce a yield net of Prudential's administrative fee of 0.60%. PRIAC is compensated in connection with this product by deducting an amount for investment expenses and risk from the investment experience of certain assets held in PRIAC's general account. For more information, go to weabenefits.com/pru.

weabenefits.com

Mutual fund change noticeAs you know, we regularly review all

investments to evaluate the quality of our retirement programs. Each investment is reviewed based on a variety of factors to ensure they continue to satisfy our standards. We look to provide you with quality investments to allow you to build a diversified portfolio of fund choices.

In September, we changed a mutual fund in our lineup. The PGIM QMA Small-Cap Value (TASVX) has been replaced with MFS New Discovery Value R6 (NDVVX).

This may be a good time to review your portfolio to take advantage of the choices available. Visit weabenefits.com/investments for more information.

Member Benefits also has several financial planning options available if you want help. Call 1-800-279-4030, Extension 6730.All advisory services are offered through WEA Financial Advisors, Inc., a registered investment advisor.

TO BE ANNOUNCED

We will be closed:Thanksgiving—Nov. 28–29

Christmas—Dec. 24–25New Year’s Day—Jan. 1

Holiday hours

PRU

DENTIA

L GUARANTEED INVESTMEN

T

403(b) and IRA 2020

OCT. 25

Check our Web site on October 25 for the 2020 credited rate of return.*

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Home. The word conjures up safety, security, and family. It likely includes everyone and

everything that mean the most to you. And for many people, their home

is their greatest financial asset. With so much time, attention, and money invested, it's crucial to make sure your home is properly protected.

But many people are putting this important investment, and their family, at more risk than they realize because they don't understand their home insurance coverage and the factors that need to be considered.

Whether you're a new home buyer or you've lived in your home for many years, it's important to understand that your home and the people in it need proper protection.

Coverage considerationsHome insurance includes three types

of coverage: structure, belongings, and liability. Each category has its own considerations.Structure: Your home

It costs more to rebuild than you may think. Many people underestimate the cost to rebuild their home in case of loss. According to Marshall & Swift/Boeckh, two out of every three homes nationwide are underinsured by as much as 27%. Would you be prepared to foot the additional 27% of the cost to rebuild your home?

{ your insurance

Protecting your

LARGEST investmentYour biggest investment needs the right protection. Are you and your family properly protected against financial loss? Understand some basics about home insurance coverage and take advantage of helpful resources so you can feel right at home.

When insuring your home, it should be insured for 100% of its replacement cost. This is different from both the assessed value (the dollar amount placed on your home by your local government for taxation purposes) and the market value (how much you could expect to get

for your home in the current real estate market if you were to sell). Replacement cost reflects how much it would cost to rebuild your house in the same spot, with materials of like-kind and quality.

"Rebuilding a home is almost always more expensive than building a comparable new one," explains Steve Schofield, Personal Insurance Consultant at Member Benefits. "Demolition and removal of a destroyed home has to occur before rebuilding even begins. Local ordinances often place regulations on demolition, which can increase expenses.And when working on a single home, builders can’t buy materials at volume discounts. Plus, it generally takes longer due to the complexities of rebuilding.

"Think of it this way—housing prices rise and fall, but the cost of building materials and labor always continue to rise."

For homes built during or after 1950,

Member Benefits' home policy pays the full cost to repair or replace your home with materials of like kind and quality without the limits imposed by most other insurers. For homes built prior to 1950, this coverage provides up to 125% of the dwelling limit on your policy.

Water damage isn't automatically covered. While some types of water damage may be covered under your home policy, you need separate coverage for flooding. Flood coverage can only be purchased through the National Flood Insurance Program (NFIP). The NFIP offers flood insurance to homeowners, renters, and business owners if their community participates in the NFIP. Member Benefits sells and services these flood policies, which must be in place for 30 days before coverage begins.

Water damage due to drain and sewer backup or sump pump overflow may be covered if you've added an endorsement to your policy.

Don't set it and forget it. Many homeowners eventually find themselves without enough coverage because they buy their policy and never look at it again. “We recommend you review

Replacement cost is different from both assessed value and market value. Make sure you know the difference when insuring your home.

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your insurance coverages at least every other year, but it’s especially important to adjust your policy when you make improvements like upgrading a kitchen with custom cabinets or adding sqaure footage to your home,” explains Steve. Some companies offer inflation guard protection that automatically adjusts your coverage limits by a certain percentage each year to help keep up with increases in material and personal property costs. "However, members shouldn’t rely solely on this to keep their coverage current. Periodic insurance reviews will help ensure your coverage is still appropriate, which can mean eliminating coverages you no longer need and adding new ones you do. We can help you with that."Belongings: Your stuff

Personal property coverage. Home insurance also covers your personal assets up to policy limits. At Member Benefits, if your personal property is destroyed or damaged, our policy provides coverage equal to 75% of your residence coverage limit.

If personal property is stolen or damaged by a covered peril while away from home, our policy pays up to 100% of your personal property limit. We pay up to 10% of your personal property limit for property that is with your student while away at college. (See page 11 for more on insurance and college students.)

Schedule high value items. Items that are “lost” are not covered unless they are scheduled. Scheduled personal property coverage is an optional add-on to your home insurance policy that provides coverage for a greater number of risks and may increase the coverage limits on

specific, high-value items. This gives you additional coverage as well as protection from certain types of accidental loss such as droppage or mysterious disappearance. When you schedule property such as jewelry or musical instruments, you receive coverage up to the amount you specify. "Protection for your boat, snowmobile, or recreational vehicle can also be obtained by scheduling them on your policy," adds Steve. A deductible may apply to some items.Liability: Your responsibility

Accidents happen. A visitor slips on the ice on your front walk. Your runaway grocery cart causes someone to fall and break a hip. Accidents yes, but the reality is that you could be held financially

responsible in any one of these situations, and each could easily exceed $100,000.

Liability claims against homeowners are quite common. Most experts recommend at least $300,000 worth of home liability coverage. Others, like Member Benefits, recommend even more. “Our home policy includes $500,000 of liability coverage. We don’t even offer anything lower,” says Steve. “The additional coverage is a relatively inexpensive way for members to protect their assets.” Liability coverage offers

protection for you and all family members who live with you, and it typically covers incidents on or away from your property.

Avoid attractive nuisances. Outdoor additions such as trampolines and pools increase your liability. You may not know it, but from an insurance perspective, they’re considered an attractive nuisance—something that is likely to entice children and could pose a risk of injury. Other examples include artificial ponds, discarded appliances, and abandoned cars.

You have the burden of taking adequate measures to protect children. Even if someone comes over and uses the trampoline or pool without your knowledge, you may be liable for any potential injury they may suffer from it.

Insurers may handle attractive nuisances in several ways, from no exclusions or coverage with precautions, to specific exclusions or refusal to insure the home. Be sure to talk to your insurance company so that you clearly understand your specific options, obligations, and coverages in your plan.

Pooch particulars. Dog ownership is also more popu l a r than ever. In fact, almost 90 million dogs are owned by 60.2 million

Liability claims against homeowners are common. Having more liability coverage is a relatively inexpensive way to protect your assets.

| continued on page 9

weabenefits.com 5

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{ your privacy

bank account numbers, Social Security number, or medical insurance account numbers to commit fraud. This may include buying things with your credit card or opening new ones, opening utility accounts, stealing your tax refund, getting medical care, or pretending to be you if they’re arrested.

The frequency of identity theft has increased dramatically in recent years. According to a revised 2017 "Victims of Identity Theft" report from the U.S. Department of Justice:• 17.6 million Americans, or 7% of

those 16 years or older, were victims.• 86% experienced misuse of an existing

credit card or bank account.• 7% experienced multiple types of

identity theft.

Identity theft happens when someone steals your personal information to commit fraud. Most people who

experience it have to take several steps to recover their identity and clean up the mess that was made—by no fault of their own.

Criminals have many ways to obtain your personally identifiable information (PII). They may send e-mails or make calls posing as trusted associates or officials (known as "phishing"), utilize hardware/software or service systems, create fake social media accounts to impersonate you, or even steal your mail or garbage to get important account numbers—just to name a few.

Once they have your PII, they can use your name and address, credit card or

• 14% of identity theft victims experienced an out of pocket loss. Of these, 49% suffered losses less than $100 and 14% lost $1,000 or more.

the three d's

Unfortunately, if identity theft happens to you, you’re responsible for what the thief does with your PII. You may even have to pay for anything they buy. So it’s important to do what you can to minimize your risk of becoming an identity theft victim.

FINRA (Financial Industry Regulatory Authority, Inc.), an organization that plays a critical role in ensuring the integrity of America’s financial system, has outlined a simple practice that anyone can do: The Three D's: Deter, Detect, Defend. Here are some tips you can follow using their easy-to-remember outline.

DeterUsing preventive measures to help

safeguard your important information can significantly reduce your risk.• Protect user names, passwords, and

PINs by keeping them private. Create complex passwords and change them often. Don’t use the same password for multiple accounts.

• Use two-factor authentication when available. It makes your account more

When should I share my Social Security number?While not every request for your Social Security number is an effort to steal your identity, not every request is mandatory either. In general, you may need to provide your Social Security number to:• Employers.• Financial institutions, such as banks or brokerage firms.• Banks, credit card issuers, or other lenders.• Landlords or utility providers (such as a power company).• Government agencies to obtain services and to file your taxes.• Credit reporting agencies—Equifax, Experian, or TransUnion—or

annualcreditreport.com to obtain your credit report or credit score.Source: FINRA

Protect yourself from

identity theft

Identity theft is a serious crime that can happen

to anyone. While no one can protect themselves

completely, there are things you can do to

reduce your risk as well as steps you can take if

you do become a victim.

6

weabenefits.com 7

secure by adding an extra step to your basic log-in procedure, such as a PIN, generated code, fingerprint, etc.

• Be sure your computer has security software and keep it up to date. Same goes for your mobile devices.

• Appliances, security systems, thermostats, and other consumer products that connect to the internet should only be purchased from reputable sources. Keep firmware up to date and use strong passwords. Be clear about their data privacy policies—devices become "smart" because they collect a lot of personal data.

• Use your own computer and secured internet connection when you access personal accounts, shop online, etc. Don’t use public Wi-Fi when accessing confidential information or using credit cards.

• Never buy anything from a Web site (or enter PII) that doesn't start with HTTPS. It should also have a padlock icon in the address bar.

• Use care when downloading files from Web sites or clicking on links.

• Don’t carry your Social Security card in your wallet, and only give your number out when necessary.

• Shred anything that has personal information, account numbers, etc., before you dispose of it.

• Never leave paid bills in your mailbox for the mail carrier to pick up.While most people understand the

need to protect their Social Security number and PIN, other identifiers could help a thief access your PII. Many people actively publish data online about themselves through social media, organizational Web sites, and e-mail signature blocks, and don't think much about it. But the more information a thief has (such as your name, address, e-mail, birthdate, maiden name, gender), the easier it can be to assume your identity. Be thoughtful about what you share and where.

DetectIt’s important to keep a close eye on

your finances and be wary of anything that seems a little off or too good to be true. • Never respond to a call or e-mail that

asks you to give personal information

insurance policy? The answer is yes. Your policy reimburses up to $10,000 for expenses that occur from identity theft. Benefits include:• $300 in coverage if you need to hire

a theft recovery service to help you restore your identity.

• Lost salary or wages up to $200 per day, up to $5,000, resulting from time taken off work to restore your identity.

• Loan application fees.• Reasonable attorney fees.• Costs for notarizing documents.

Remember, even the most careful among us can fall victim to identity theft. So it’s more important than ever to protect all of your personal identifiable information, because this information is often a key ingredient in a scam.

Sources: FINRA, FTC, usa.gov, nsa.gov

Property and casualty insurance programs are underwritten by WEA Property & Casualty Insurance Company. The terms and conditions of your coverage are exclusively controlled by your written policy. Please refer to your policy for details.

such as your Social Security number, account numbers, passwords, etc.

• Check your bank and credit card accounts regularly, and compare receipts with statements. Take time to read the statements from your health insurance plan as well.

• Check your credit report using annualcreditreport.com. You can check all of them annually, or stagger checks between Experian, TransUnion, and Equifax throughout the year.

• Watch for things you didn’t buy, withdrawals you didn’t make, a change of address you didn’t expect, and bills that stop coming.

DefendAs soon as you suspect a problem, it’s

time to take action. Warning signs can include unfamiliar accounts on your credit report, strange withdrawals from your bank account, or bills or calls about debts that aren’t yours. If you're a victim of identity theft:• Report the identity theft by visiting

the Federal Trade Commission (FTC) Web site, identitytheft.gov. The site will help you create an Identity Theft Report and a personal recovery plan based on your situation.

• File a report with your local police department.

• Call the companies where you know fraud occurred. You may have to close accounts opened in your name or report fraudulent charges to your credit card company as well.

• Place a fraud alert on your credit reports.

your insuranceWondering if you're covered with

your WEA Member Benefits' home

Federal Trade Commissionidentitytheft.gov1-877-ID-THEFT

"Identity Theft and Your Social Security Number"ssa.gov/pubs/EN-05-10064.pdf

USA.govusa.gov/identity-theft

consumer.govconsumer.gov/scams

Resources

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{your benefits

Working at a new district this year? Don't forget your 403(b).

There’s a lot to think about when moving to a new school district: new classroom, new students, new coworkers...new 403(b)?

That’s right. Your 403(b) is an employer-sponsored plan, so when you leave a district, any contributions to that account stop. To continue funding your retirement savings, you need to set up a new retirement account with your new district.

Member Benefits is an approved vendor in 98% of the school districts in Wisconsin, so chances are you can continue saving for retirement with our nationally recognized 403(b). Here’s what you need to do.

Call us We’ll help you set up your new account

in about 10 minutes.

Fill out an SRA Fill out a Salary Reduction Agreement

(SRA) and submit it to your new district’s benefits manager or payroll coordinator, authorizing them to withhold and forward money from your paycheck to your 403(b). We can provide you with the SRA or you can get it from your district's business office.

Update your accountWhile you’re setting up your new

account, take the opportunity to:• Review your asset allocation. This

is the perfect time to make sure your investments are appropriate for your

risk tolerance and retirement goals.• Review your beneficiaries. If you’ve

experienced any life events (marriage, divorce, birth of a child, death of a family member, etc.) it’s time to update your beneficiaries.

• Increase contributions. Did you get a pay increase? Have you paid off your mortgage or other significant debt? Consider redirecting those dollars to your retirement account.

• Consider adding after-tax (Roth) contributions to your 403(b) retirement savings mix if your new district allows. If not available, consider a Roth IRA.We can help you evaluate whether Roth contributions make sense for you.

Decide what you want to do about your old account

Keep in mind you may have the option to transfer the money from your old plan to your new one. The process is pretty easy. Our staff can explain your options and help you decide whether or not it makes sense to transfer the money.

Moving to a new district requires you to open a new 403(b) account in order to contribute to your retirement savings. Your 403(b) account with a previous district is still yours and will remain in that district’s plan until you either move it or need it for retirement.

The 403(b) retirement program is offered by the WEA TSA Trust. TSA program registered representatives are licensed through WEA Investment Services, Inc., member FINRA. *The Trustee Custodian for the WEA Member Benefits IRA accounts is Newport Trust Company. To be eligible for this program, you must meet the IRS eligibility requirements for contributing to an IRA. Restrictions may apply. Wisconsin residency required.

Call 1-800-279-4030P.S. Consolidating your retirement accounts makes them easier to manage and may save you money. If you want to rollover a 401(k) or other retirement account(s) to a WEA Member Benefits IRA*, we can help with that, too!

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| continued from page 5

Personal Property Home Inventory eBook Download our free home inventory eBook at weabenefits.com/homeinventory and pick up tips on how to get started, how to make the process a little less daunting, and when to consider insurance scheduling.

Buying a Home eBookIn the process of buying your first home, or thinking about purchasing one down the road? Our interactive Financial Guide: Buying a Home eBook is full of information on purchasing, evaluating, and protecting your new home, and includes tips on becoming a better insurance consumer. Find it, along with other helpful eBooks, at weabenefits.com/ebooks.

Free insurance reviewOur personal insurance consultants can review your current insurance policy and help you understand the different types of home policy coverages and appropriate limits for the physical structure of your home, your personal belongings, and liability to others.

1-800-279-4030 ▬ weabenefits.com/consults

You can get a free home inventory eBook by visiting weabenefits.com/homeinventory. Not only does it offer you a checklist to follow, but we also share some tips for how to get started, make the process easier, and keep it safely stored. Remember, we're here as a resource if you need help or have questions.

households in the United States (Insurance Information Institute). They also report that dog bites and other dog-related injuries accounted for nearly one-third of all homeowners liability claim dollars paid out in 2018, costing $675 million.

Generally, home insurance policies do not exclude “canine exposure” from coverage. However, each insurer may handle the risk differently, from charging a higher premium, denying coverage for breeds construed as dangerous, or requiring the owners to sign a liability waiver for dog bites. Be aware that you run the risk of nonrenewal following a dog bite incident.

Consider additional protection. You may want to take liability protection a step further. Additional liability insurance (umbrella insurance) protects you when the unexpected happens by providing protection above and beyond your existing home insurance policy. And the good news is you can buy $1 million of additional liability protection very economically.

If you have a trampoline, pool, or dog, you may want to seriously consider umbrella insurance. However, don’t assume that because you have this policy that you are covered. Under some circumstances, you may not be. Contact your insurer so you understand your policy guidelines.

Create a record of your stuff

If you experience a fire or other disaster at home, would you be able to remember EVERYTHING you possess? Having an up-to-date home inventory can help you get your claim settled faster, verify losses on your income tax return, and help you purchase the correct amount of insurance.

Home sweet homeProtecting your home is also

protecting everything that's important to you—including your family. Knowing that you have reviewed your coverages, understand your liability, and made a record of your possessions will only make living in your largest investment that much sweeter because you're properly protected.

A home inventory can make the claims process go much easier if you ever need it.

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Property and casualty insurance programs are underwritten by WEA Property & Casualty Insurance Company. The terms and conditions of your coverage are exclusively controlled by your written policy. Please refer to your policy for details. Certain policy exclusions and limitations may apply.

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On August 8, 2019, the newly formed WEA Member Benefits Foundation, Inc., along with WEA Member Benefits, held a celebration in honor of the winners of our fourth annual Student Art Contest. This year, the celebration, as well as the prizes to honor their work, was supported by a gift to the Foundation to foster creativity in our Wisconsin public school youth.

The grand prize winner was Melanie Davis (pictured), a senior at Muskego who plans to pursue illustration at the Savannah College of Art and Design this fall.

It was a wonderful evening and a great way for our youth to get some recognition for their talents. Our congratulations to all! To view a short video highlighting all of our artists, go to weabenefits.com/studentartcontest.

{ your kiosk

Time is running out to decide on what you're going to do with the required minimum distributions (RMDs) from your retirement account this year.

Your RMD is the minimum amount you must withdraw from your account each year, but you can choose to withdraw more. You generally have to start taking withdrawals from your IRA, SEP IRA, SIMPLE IRA, or retirement plan account at the later of age 70½ or the calendar year you retire from an employer through which you contributed. Roth IRAs do not require withdrawals until after the death of the owner.

If you're not sure what to do with your RMD by December 31, we have a few ideas for you.Donate

Did you know you can choose to give up to $100,000 to a qualified charity from your Individual Retirement Account (IRA) without counting it as taxable income when you are over 70 ½ years old? This type of gift is called a qualified charitable distribution (QCD). It’s not only a powerful incentive for charitable giving, it also has tax benefits. QCDs count as IRA distributions, so

Celebrating student artistsWEA Member Benefits Foundation, Inc., holds student soiree

Decisions, decisions on distributionsthey can be used to satisfy all or some of your required minimum distribution (RMD) for the calendar year.

Member Benefits requires you to complete a specific form if you wish to take advantage of this IRA option. Consider giving a donation to WEA Member Benefits Foundation or one or more of your favorite charities.Reinvest

If you don't need the funds for necessities, consider opening a Personal Investment Account with Member Benefits. It’s a way to invest your money outside of a retirement account without using a cash account such as savings, checking, or certificates of deposit. You can choose from individual, joint, UTMA, or trust accounts.

Ask us about the tax benefits of this type of account. For more information, visit weabenefits.com/pia.Give

The Uniform Transfers to Minors Act (UTMA) provides an avenue for a grandparent, parent, aunt, and/or uncle to make monetary gifts to a minor. Or consider making a contribution to a 529 college savings plan (in Wisconsin, visit edvest.com).

TransferIf you have a Roth 401(k), you can roll

the money into a Roth IRA, which has no RMDs for the original owner. You can also convert your Traditional IRA to a Roth IRA, but you will owe tax on the conversion.

Give us a call at 1-800-279-4030 if you have questions. As with most IRS provisions, we encourage you to work closely with your tax advisor to determine what would work best for your specific situation.

equiredInimumistribution

To learn more about how you can support WEA Member Benefits Foundation, Inc., please visit weafoundation.org.

This article is for informational purposes only and is not intended to constitute legal, financial, or tax advice. Certain recommendations or guidelines may not be appropriate for everyone. Consult your personal advisor or attorney for advice specific to your unique circumstances before taking action.

weabenefits.com 11

Save money with our winter layup program for your summer toys

If you have a boat, motorcycle, and/or RV insured by Progressive through WEA Member Benefits, you could save money on your off-season premiums by participating in the winter layup program. The layup program reduces premiums temporarily by reducing selected coverages—such as bodily injury and collision—while your summer toys are stored away for the season.

Your coverage will be scheduled to automatically increase to the original amounts on March 1 or April 1 based on your preference. A new declarations page will be sent for your records once we have returned all coverages to their original levels.

If you have coverage for your summer toys with Progressive and would like to enroll in the winter layup program, call Progressive at 1-800-888-7764.

Kids off to college? A parent's guide to insurance

If you're empty nesting, by now your college student is probably settled in and busy with the new school year. And maybe you're even getting used to the idea. But do you understand what your current auto and home insurance will pay for with your student and what they won't? Here's a quick review.

Home/renters insurance• If your child is in a dorm, their stuff may be covered under your renters or

home insurance. Check your policy for coverage limits.• If they are renting off-campus, in most cases they will need their own

renters insurance policy. A renters insurance policy provides protection for their personal property, such as furniture or electronic equipment, in case of perils like fire or theft. It will also help pay for legal defense and settlement costs if your child is sued for someone's injury or property damages (not including illegal acts).

• If you have home insurance with Member Benefits and your child's property is stolen or damaged by a covered peril, we'll pay up to 10% of your personal property limit for property that is with your student while away at college.

Auto insurance• If your student is leaving the car at home, find out if your insurer offers an

away-at-school discount. Keep your child listed on your policy so they have coverage when they're back home on breaks. Don't forget to ask whether your insurer offers a good student discount like Member Benefits.

• If your child brings a car along to school, let your insurance company know. The coverage price may go up or down depending on the school's location. You may want to encourage your child to keep the car at home if their campus is easy to get around on foot or by bike.

262.886.5900 | ecu.com

JOIN US.Educators is for people who want to learn how to get the most from life. If you live and work in our 11-county service area, we’re here for you.

Insured by NCUA

A WEA Member Benefits PartnerEducators Credit Union is as committed as we are to helping Wisconsin public school employees become financially secure, which is why we believe our partnership is good for members.

If you're not saving as much for retirement as you should, now is a great time to get your savings back on track. Here are a few tips to help you make the most of saving for your future.Start saving what you can. Save now with a 403(b) through your district, and if eligible, you can also open an Individual Retirement Account (IRA). Fund your account. Be sure you’ve filled out a Salary Reduction Agreement for the 403(b). If you have an IRA, make it easier to save by setting up automatic contributions directly from your savings or checking account. Take the match. If your school district offers a match in your 403(b) plan, take it. It’s free money. If you’re already saving, consider increasing your contributions. Both the 403(b) and the IRA have annual contribution limits, which can change every year. Visit weabenefits.com/limits to learn more.Enroll now. It's easy. Visit weabenefits.com/enroll to open a 403(b) or IRA. Or give us a call at 1-800-279-4030.

weabenefits.com

PO Box 7893, Madison, WI 53707-7893

We do 401(k) rollovers! 1-800-279-4030, Extension 8568

weabenefits.com/rollover

Ready to rollover to a WEA Member Benefits IRA?

Managing your investment accounts is easier when you consolidate. Pay ONE low administrative fee up to an annual fee cap.* If you have retirement savings accounts with other companies like an IRA, 401(k), 403(b), 457(b), SIMPLE IRA, and/or SEP IRA, you’re probably paying multiple annual fees.**

Rollover to a WEA Member Benefits IRA today. Your family can also participate! Ask us about requirements.†

*A minimum annual fee of $25 will apply to accounts that have no annual contributions. Mutual fund management and redemption fees may apply. **Be sure to consider all your available options and the applicable fees and features of each option before moving your retirement assets. †To be eligible for this program, you must meet the IRS eligibility requirements for contributing to an IRA. Restrictions may apply. Wisconsin residency required. The Trustee Custodian for the WEA Member Benefits IRA accounts is Newport Trust Company.