2026 Documents
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Wisconsin Coalition of Annuitants
November 17, 2025 Minutes
Meeting called to order by Vice- Chair Bob Scharfer at 9:32a.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; Brian Holmes, Epsilon Sigma Phi; Bruce Johnson, SWIB Retiree; Rick Klemme, Epsilon Sigma Phi; Allen Knop, WEAC-Retired; Kathy Kreul, WFT/AFT Retirees; Jack Lawton, ACE; Laurie Mayberry, Past President, UWRA; John Maydak, West Allis Retirees; Fred Nepple, OCI; Elaine Reiter, Kettle Moraine Retired; Robert Schaefer, WI Assoc of Retired Conservationists and State Engineering Association; Sari Simer, SWIB; Roger Springman, WFT/AFT Retirees; Jeanne Stangl, Dodge County Area REA; Rick Wojciak, DNR; Christopher Wren, Wisconsin State Attorneys Association; and wicoa.org
DIRECTORS & ALTERNATES NOT PRESENT: Dave Bosanko, Retired Professional Fire Fighters of WI; Robert Brooks, Central Wisconsin Center Retirees; Ed Frank, WI Assoc of Retired Conservationists; Paul Haubrich, UW Milwaukee Retiree’s Assoc.; Scott Hildebrand, UWRA President; Dick Kratz, WI Retired Corrections Personnel; Tara Leithold, Kettle Moraine Retirees; Lucrecia Mattson, UW-Eau Claire Emeritus; Kevin Niemi, President Elect, UWRA; Jim Palmer, WI Professional Police Association Retired; Dee Pettack, WSAA; Tom Speranza, Retired Professional Firefighters of Wisconsin; Jim Thiel, Association of Career Employees; Clara Welch, Beloit Area REA
DIRECTORS & ALTERNATES EXCUSED; Mary Czynszak-Lyne, Secretary UWRA; Diane Wilcenski, WREA;
GUESTS; Tarna Hunter, Chris Preisler, Sari Simer
Roll Call: Taken by Rick
Approval of the October Minutes: Minutes approved as printed.
GUEST: Tarna Hunter, Director of Budget and Management, ETF
ETF has a research partnership with UW Madison. UW Madison completed multiple studies related to financial capability programs and disability programs. During the last couple of years, they have been researching the high-deductible health plan on how it compares to the HMO plan and how participants use it. They found that the HDHP members had lower total out -of- pocket costs that those in non-HDHP plans. They also found that HDHP members saved about $1,200 for single coverage and about $2,000 for family coverage per year. One of the reasons that individuals or members may not participate in the HGHP is because they are familiar with their HMO plan and its coverage. ETF is going to focus on education to help them understand the plans and give them information to make the right decision for them and their family.
The board also reviewed preliminary benefit and design changes for the 2027 plan year. Some of these changes include language clarifications and increases to cost sharing because the plans are getting a little bit more expensive, so they are looking at medical deductibles, how much it costs to visit for co-pays for primary care, specialty care, urgent care and emergency room services.
ETF sent out a health insurance survey to members to find out what the members’ preferences are. They are seeking thoughts on premium rates and other cost sharing. ETF also is seeking information from employers on their preferences.
The GIB also approved commencement of the request for proposals process to select one or more vendors to administer the access plan and the state maintenance plan that would be effective for January 1st of the 2028 plan year.
There were modifications to the supplemental insurance guidelines for future contract negotiations for supplemental dental insurance. That will be effective January 1st, 2027.
The next GIB board meeting is February 25th, 2026.
ETF is in the process of doing proof of concepts for two different vendors to administer or help us offer a contract to implement our pension system. The Proof-of-Concept Evaluation Committee and several other staff have spent a lot of time evaluating the two vendors. On Friday ETF had a final demonstration for one of the vendors. Then on Tuesday there was the final demonstration for the other vendor.
The next step will be for the evaluation committee to evaluate both vendors against the benchmarks that were set. They will then bring a recommendation to the Secretary on who they believe ETF should contract with. The hope is to have the vendor chosen by the end of this year or early next year. After the vendor is chosen, ETF will start contract negotiations with the chosen vendor.
The Insurance Administration was implemented for the UW in July. ETF is presently in the implementation process and is learning a lot from it that will help prepare them for the May 1st, 2026 implementation for the Department of Administration and then July 1st, 2026 for retirees and locals.
The Retirement Board is meeting on December 11th, 2025. There are two major items for this meeting. The first is Professor Michael Collins from UW who is on the Teacher’s Retirement Board and appointed to the SWIB Board will be giving the annual update. The board is also planning on looking to review a number of board policies.
The legislative update—
Return to Work continues to be a topic of discussion. There have not been any amendments to this bill at this point. However, there could be some coming in the next month or so. Tarna will keep us posted.
Lastly, over the last couple of sessions, ETF has requested that the internal auditor report directly to the board. This is considered to be a best practice; ETF feels that the secretary should not be overseeing the internal auditor. ETF is working with some legislators to see if they can get this bill introduced as a standalone bill.
Guest: Chris Preisler, Senior Communications Specialist, SWIB
Final Performance returns as of September 30, 2025 Returns on a Five-year Basis
Core 11.91% Benchmark 11.24% Core 8.75% Benchmark 7.91%
Variable 18.20% Benchmark 18.02% Variable 14.33% Benchmark 14.33%
Assets Under Management
Core Fund $139.9B Variable Fund $12.5B There is a total of $152.4B in retirement fund assets
Sneak Peak of Preliminary returns as of October 31, 2025 Returns on a Five-year Basis
Core 12.91% Benchmark 12.33% Core 9.19% Benchmark 8.41%
Variable 20.74% Benchmark 20.58% Variable 15.29% Benchmark 15.33%
We are kind of looking at the same story. SWIB is looking at the job market, inflation numbers, and what the Federal Reserve will decide to do at their meeting on Dec. 9 and 10 with interest rate cuts. The stock markets are continuing to do well. They have had a few ups and downs. Currently it is big tech that is leading the gains. Many of the smaller companies are not growing as much. Tech industries are the ones leading the charge into the home stretch of 2025.
Interest rates continue to be relatively high. Investors seem to be feeling a bit cautious and hopeful that the year ends on a high note.
A market update podcast is in the works. Chris is hoping to get Todd Matina back on for that. They are planning to record it shortly after the Federal Reserve meets on December 9th and 10th.
The next SWIB board meeting is Dec. 16 and 17. Last month Chris mentioned that the board was presented with a preliminary recommendation to reduce exposure to public equities by reducing the leverage. Chris stated that the result would be to reduce risk going into 2026. Chris was informed that the board was receptive to making a slight asset allocation change when it was discussed at their October workshop. They will make the final decision at the December meeting.
Another podcast will be coming out in a few weeks. This will be a regular full-length episode that will feature Cefe Quesada who is SWIB’s Chief Technology Officer and Salah Khalaf who is a Portfolio Manager. They will talk about AI in general as well as how it affects and impacts the financial industry and SWIB. They had so much content that they are splitting it up into two back-to-back episodes that should show up before the end of the year. The first episode will talk more about AI in general and the second will talk about AI being used at SWIB and some of the guardrails and procedures that SWIB has in place.
Correspondence: None
Old Business: WICOA 2026 Annual Conference.
WICOA Annual Conference 2026
Bob sent out suggestions that he received for topics for the conference.
AmFam is not available. They are hosting big in-house meetings the entire month of May. Bob looked at the DreamBank location which appeared to be in the middle of a huge complex on East Washington Street. He drove around it and found parking but couldn't find the facility. He reported it back to Diane. They decided that we should just go back to an all Zoom meeting and try again next year.
This year’s conference will be held over two days in May. Bob suggested either a Tuesday-Wednesday or Wednesday-Thursday. Kathy Kreul suggested that we stick to a similar schedule that people from past meetings are familiar with. Brian Holmes suggested the 13th and 14th. Jeanne Stangl suggested that we check that both John(ETF) and Edwin(SWIB) are available those days.
Tarna checked her calendar. John is available on May 13th. Chris checked his calendar and stated that the 14th would be better for Edwin. Tarna asked for the times they would be speaking. Bob double checked with Rick and they both agreed to 9:00AM until Noon.
On Wednesday May 13th John from ETF will speak from 9AM until Noon.
On Thursday May 14th Edwin from SWIB will speak from 9AM until Noon.
Bob then reminded the group that ideas for topics were sent out ahead of this meeting. He then asked for your suggestions.
Roger Springman suggested AI as a topic. He suggested that we have one of the speakers from the SWIB podcast as a potential presenter. Roger stated that all the talk about the mega data centers affecting energy and water availability has become a hot topic. Another topic could be the labor impacts of AI. This is affecting young white-collar workers just starting out at the base level because this is the level that AI functions best at. There are also predictions of huge layoffs of general workers because they are planning on having computers and robotics due all the packaging and sending of orders.
Bob then asked Chris about having someone from SWIB be a presenter to talk 40 -50 minutes on these issues that are outside the investment world. Bob also asked Tarna the same question as Chris. Chris responded that he didn’t know if Seth would address that part of IT. Chris is going to talk with Seth to find out if knows anyone who could handle these topics.
Sandy Drew suggested that we go outside the system. She stated that we have the university right here that could perhaps talk on this subject and give us a broader understanding of the impact of AI.
Bob asked if anyone had contacts with the university who could make a recommendation.
Sandy offered to check with some retired people who she knows from the university who were in some upper-level positions that could possibly give us some suggestions.
Kathy Kreul mentioned that her group ATF Wisconsin has universities within them as their locals. She offered to ask their local president if he knew anyone who could educate us in AI and explain what is happening in that field.
Bob stressed the importance of having this all decided by the end of our next meeting. Please check with possible speakers as soon as you can.
Roger suggested that if we are really interested in exploring the impacts of data centers, we should contact CUB (Citizens Utility Board). This group has a very keen interest in making sure that the regulators do their homework and due diligence on data centers and their sites. They may be able to direct us to a knowledgeable speaker. Roger agreed to contact them.
Bob suggested that maybe we could look at speakers that could address how AI impacts the environment, job market, scams, health care, your locale and investments. He went on to say that we could have two AI speakers. We could have one day focused on AI data centers on local residents. Bob mentioned to Rick that they could mention this at their upcoming coalition meeting.
Rick brought up the topic of scams and the vulnerability of our population with AI scams. He also pointed out that on last year’s survey that people were very interested in Health Care. He pointed out that we need to have some diverse topics to draw more people.
Roger came up with an idea to have one day have the topic be AI and then have a panel discussion to speak on the different aspects of AI. This would allow a variety of topic areas to be discussed briefly.
Bob suggested that one speaker talk on the data center impact and the second speaker to discuss the scam aspect of AI. He asked Chris Wren about an article that he sent. Chris said that the article that he sent had to do with scams involving private credit firms and not necessarily tied to AI.Bob said that he would contact the DNR to see if they know of any speakers that would discuss impacts on water supplies, electricity and things like that. He reminded Roger to speak to CUB.
Bob then asked the group if they wanted to hear about scams, crypto banks, and things like that. Sandy Drew stated that AARP would be the speaker for that as they are going after the crypto kiosks which have become very prevalent in Wisconsin. Bob asked if we would like to hear from the Group Insurance Board but was reminded that it does not cover local employees or local retirees. Tarna suggested we look at someone who deals with Medicare. It was noted that with AI taking over jobs it will lower contributions to Medicare.
Another possibility for a speaker is someone from Social Security. The worry date as to when Social Security will run out has changed from 2034 to 2032. Again with AI this will limit your contributions to Social Security.
Bob summarized the topics we seem interested in.
Discussion on AI impacts on the environment.
Discussion on AI impacts on scams, the job market, crypto, Social Security and Medicare.
AARP discussion on the future of Social Security and Medicare
Attack on the Affordable Care Act and Medicaid
Change in costs of the Market Place.
What the future looks like in Health Care.
Bob asked if anyone has a contact at AARP to speak on any of these topics. Sandy Drew volunteered.
Bob suggested that maybe this should be one of the main speakers with AARP coming in and talking about Medicare Advantage and where it is going with the current political climate.
Kathy stated that she wanted to see how all of it is going to affect everybody’s health. (the whole thing on healthcare….. where are we going?)
The status of healthcare plans affecting seniors.
Michael Collins Justin Synder as possible speakers or know of someone.
Crypto scams
Stability of Medicare and Medicare
So, on Wednesday May 13th we would have ETF (John) and someone speaking on Healthcare,
On Thursday, May 14th we would have SWIB (Edwin) and someone speaking on AI.
A discussion followed about the Data Centers being considered in Wisconsin.
Sari Simer sent Bob something on scams where they had a panel discussion where they also discussed cryptocurrency. (The Triad) She also sent an article from AARP about their partnership with SeniorPlanet.org for training seniors.
Sari also recommended an AI instructor who teaches at UW. Sari is taking her course and highly recommends her. Bob asked her if she would feel comfortable contacting her.
Roger pointed out that we have narrowed our focus to a speaker on AI and another speaker on a health session. He suggested a short meeting to discuss what the speaker situation looks like.
We will meet on December 9th at 9AM to finalize speakers.
Thank you, Rick, for setting this up!
Old Business: SSM Settlement
Bob held up a little piece of paper that he received regarding the SSM Settlement. He asked Roger about it as well as Tarna. Tarna replied that ETF is still looking into it. She asked the Office of Strategical Health Policy to look into it but didn’t have anything to report right now. Bob commented that he received a form to fill out to claim the settlement. Roger added that the settlement is $35.00. You have until January 20,2026 to have it in. Tarna also explained that this has nothing to do with ETF as it is a provider contract.
Kathy Kruel mentioned that we are asking Tarna to give us information on how ETF can assure security of their third party. Tarna is working on lining up a presentation for us that will give us high-level information. On what is being done to secure our information as well as how they deal with the outside threats. Tarna added that all their vendors do a robust review of their internal controls and security in order to do business with ETF.
New Business
Kathy Kreul, our new treasurer, has been diligently working on getting all of the WICOA information in line with our bylaws. What we are doing now is not following some of our bylaws. Some clarification is needed in who is the director and who is the alternate for each of our groups. We have to determine what the procedure is when it comes to voting on something. Bob suggested that Kathy send her questions and concerns to Christopher Wren. This will be revisited at our next meeting.
Treasurer Report:
Income/Expense 10/14/2025 to 11/17/2025
INCOME
Dues Income
TOTAL INCOME 0.00
TOTAL EXPENSES 0.00
-----------------------------------------------------------------------------------------------------------
ASSETS
Savings Account 5.00
Checking Account - beginning balance 6842.74
Income 0.00
Expenses 0.00
Checking Account Balance as of 10/17/2025 6842.74
TOTAL ASSESTS 6847.74
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Kathy reported that it is time for her to send out the bills form membership for next year. She took all the information off the new WICOA organization sheets and tried to cross reference them with the lists she was given when she took over the position. They are all over the board. Some only have a dues person listed but no director. Some have an alternate director but no director. Some have just names but no titles given.
Kathy is going to send each one of us a list with all the information she has on us. She is asking that everybody look at it and clean it up. Then return it to her. Her email is startwrong@yahoo.com Please return this information in a timely matter.
Next Meeting:
December 15,2025 at 9:30 AM via Zoom
Meeting adjourned at 11:42AM
Respectfully submitted,
Jeanne Stangl
WICOA Secretary.