Benefits Available to Indefinite Term Employees
WHEDA employees participate in the State of Wisconsin Benefit package. These benefits are significant, and are a valuable part of an individual's compensation package. Employee participation is required. The current employee contribution rate is 6.8 percent. The rates are subject to change and may be adjusted. The benefits may vary depending on the percentage of full-time employment. The benefits available for full-time employment are as follows. Benefits for part-time employees are prorated based FTE status.
Retirement: Contributions to the Wisconsin Retirement System (WRS) are required as soon as your employment is eligible for WRS coverage and are calculated as a percentage of your WRS earnings. WHEDA is also required to make contributions into the Wisconsin Retirement system. Contribution rates may change from year to year. Employees are vested after 5 years of WRS creditable service.
Vacation: Vacation is earned from the first day of employment (prorated for partial year). Vacation is earned at the following rate:
Personal Holiday: Employees are granted 28.0 hours (3.5 days) of personal holiday each year. (Prorated for partial year.)
Legal Holidays: Employees are granted 12 legal holidays per year.
Sick Leave: Sick leave is earned on a biweekly basis at the rate of 130.0 hours per year. Unused sick leave accumulates from year to year. Upon retirement from WHEDA, unused sick leave can be converted at the employee's current hourly rate to pay health insurance premiums.
Health Insurance: A variety of health insurance options are available. Employees may obtain coverage within one month of starting work. WHEDA’s contribution toward the premium is effective after two months of enrollment in the Wisconsin Retirement System. Employees also have the option to include the State Uniform Dental Plan.
Life Insurance: An employee may have group term life insurance coverage in an amount up to five times his/her annual earnings. Employees may also secure coverage for their spouse (up to $20,000) and dependents (up to $10,000 each).
Income Continuation Insurance: This benefit ensures that, if a participant is totally disabled (physical or mental), the participant will receive up to 75% of their basic gross salary (not to exceed the predetermined maximum). WHEDA's contribution, which can range from 0% to 100%, is contingent upon an employee's accrual and use of sick leave.
Supplemental Dental Insurance: There are two levels of a PPO provider option an employee may choose. Employees are responsible for the entire pre-tax premium.
Vision Coverage: This program provides an affordable, easy-to-use vision care benefit. Employees are responsible for the entire premium and are pre-tax deductions.
Accident Plan: In the event of an accident, this plan provides a cash payment to help cover out-of-pocket expenses. Employee is responsible for the entire premium.
Employee Reimbursement Accounts Program: The Employee Reimbursement Accounts Program allows employees to pay eligible medical and dependent care expenses, transit expenses and parking expenses from pre-tax rather than post-tax income.
Deferred Compensation: The Deferred Compensation Program allows employees to invest pre-tax earnings or post-tax WDC Roth earnings in any of the investment options offered by the program.
Worker's Compensation: All employees are covered by WHEDA's Worker's Compensation coverage the day they start employment.
Performance Review Merit Eligibility: An employee is eligible for a merit performance review if they have been at WHEDA six months or longer. If an employee has been at WHEDA five months or less they are not eligible for a performance merit review. The time frame between months five to six is a gray zone and a performance merit review may be done at the managers discretion.
Eligibility During the Fiscal Year (Starting with the fiscal year 2023)
More than 6 months of service; receives a full performance review with merit.
Less than 5 months of service; not eligible.
Between 5 and 6 months of service (gray zone) - divisional leadership discretion.
If you have questions regarding WHEDA Benefits, please email or mail to: e-mail: email@example.com
WHEDA Human Resources
P.O. Box 1728
Madison, WI 53701-1728