This is the preview version of the Wisconsin State Legislature site.
Please see http://docs.legis.wisconsin.gov for the production version.
LRB-2270/1
FFK:jld
2015 - 2016 LEGISLATURE
October 14, 2015 - Introduced by Senators Stroebel, LeMahieu and Kapenga,
cosponsored by Representatives Sanfelippo, Brandtjen, R. Brooks, Craig,
Gannon, Horlacher, Hutton, Knodl, Kremer, Kuglitsch and Rohrkaste.
Referred to Committee on Labor and Government Reform.
SB329,1,3 1An Act to amend 40.23 (1) (a) (intro.), 40.23 (1) (am) 2., 40.23 (1) (bm), 40.24 (1)
2(f), 40.25 (2), 40.63 (4) and 40.63 (7) of the statutes; relating to: increasing the
3minimum retirement age under the Wisconsin Retirement System.
Analysis by the Legislative Reference Bureau
Currently, under the Wisconsin Retirement System (WRS), a participant may
retire as early as age 55 and a protective occupation participant may retire as early
as age 50. This bill increases the minimum retirement age by two years, with the
result that a WRS participant must be at least age 57 and a WRS protective
occupation participant must be at least age 52 in order to qualify for an immediate
retirement annuity under the WRS. This change in the minimum retirement age
first applies to individuals who are under the age of 40 on the bill's effective date and
who terminate WRS-covered employment on the bill's effective date.
Because this bill relates to public employee retirement or pensions, it may be
referred to the Joint Survey Committee on Retirement Systems for a report to be
printed as an appendix to the bill.
For further information see the state and local fiscal estimate, which will be
printed as an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
SB329,1
1Section 1. 40.23 (1) (a) (intro.) of the statutes is amended to read:
SB329,2,72 40.23 (1) (a) (intro.) Except as provided in par. (am), any participant who has
3attained age 55 57, and any protective occupation participant who has attained age
450 52, on or before the annuity effective date shall be entitled to a retirement annuity
5in accordance with the actuarial tables in effect on the effective date of the annuity
6if the participant submits an application for a retirement annuity on a form
7furnished by the department and all of the following apply:
SB329,2 8Section 2. 40.23 (1) (am) 2. of the statutes is amended to read:
SB329,2,209 40.23 (1) (am) 2. Any participant who has attained age 55 57 and who is a
10participant because of employment other than part-time service as an elected official
11and who is also a participating employee because of part-time service as an elected
12official may, after termination of all covered employment other than service as a
13part-time elected official, waive further participation under the fund for his or her
14current, and any future, part-time service as an elected official. Any election under
15this paragraph is irrevocable and is effective beginning the day after the date of
16election. Notwithstanding par. (a), any participant who elects under this paragraph
17may receive a retirement annuity for all service under the fund credited to the
18participant to the date he or she elects. The date a participant elects under this
19paragraph is deemed to be the date of separation from the last participating
20employer by which that participant was employed.
SB329,3 21Section 3. 40.23 (1) (bm) of the statutes is amended to read:
SB329,3,322 40.23 (1) (bm) If an application by a participant age 55 57 or over, or by a
23protective occupation participant age 50 52 or over, for long-term disability
24insurance benefits is disapproved under rules promulgated by the department, the
25date which would have been the effective date for the insurance benefits shall be the

1retirement annuity effective date if requested by the applicant within 60 days of the
2disapproval or, if the disapproval is appealed, within 60 days of the final disposition
3of the appeal.
SB329,4 4Section 4. 40.24 (1) (f) of the statutes is amended to read:
SB329,3,175 40.24 (1) (f) From accumulated additional contributions made under s. 40.05
6(1) (a) 5. only, an annuity certain payable for and terminating after the number of
7months specified by the applicant, regardless of whether the applicant dies before or
8after the number of months specified, provided that the monthly amount of the
9annuity certain is at least equal to the minimum amount established under s. 40.25
10(1) (a). Subject to the period of distribution required under s. 40.23 (4) (b) 2., the
11number of months specified shall not exceed 180 and shall not be less than 24. If the
12death of the annuitant occurs prior to the expiration of the certain period, the
13remaining payments shall be made in accordance with s. 40.73 (2) without regard to
14any other annuity payments payable to the beneficiary. An annuity under this
15paragraph may be initiated prior to any other annuity amount provided under this
16subchapter and prior to age 55 57 if all other qualifications for receiving an annuity
17payment are met.
SB329,5 18Section 5. 40.25 (2) of the statutes is amended to read:
SB329,4,219 40.25 (2) Subject to sub. (2t), if all requirements for payment of a retirement
20annuity are met except attainment of age 55 57 or age 50 52 for protective occupation
21participants, a separation benefit may be paid, if the participant's written
22application for a separation benefit is received by the department prior to the
23participant's 55th 57th birthday or 50th 52nd birthday for protective occupation
24participants, in an amount equal to the additional and employee required

1contribution accumulations of the participant on the date the application for a
2separation benefit is approved.
SB329,6 3Section 6. 40.63 (4) of the statutes is amended to read:
SB329,4,104 40.63 (4) Notwithstanding sub. (1) (b), a protective occupation participant is
5not disqualified from receiving a disability annuity if the participant has
6accumulated 15 or more years of creditable service and would attain age 55 57 in 60
7months or less after the occurrence of disability and the medical evidence, as
8provided in sub. (1), establishes a disability to the extent that the participant can no
9longer efficiently and safely perform the duties required by the participant's position,
10and that the condition is likely to be permanent.
SB329,7 11Section 7. 40.63 (7) of the statutes is amended to read:
SB329,4,1712 40.63 (7) If an application, by a participant age 55 57 or over, or by a protective
13occupation participant age 50 52 or over, for any disability annuity is disapproved,
14the date which would have been the disability annuity effective date shall be the
15retirement annuity effective date if so requested by the applicant within 60 days of
16the disapproval or, if the disapproval is appealed, within 60 days of final disposition
17of the appeal.
SB329,8 18Section 8. Initial applicability.
SB329,4,2119 (1) This act first applies to individuals who are under the age of 40 on the
20effective date of this subsection and who terminate covered employment under the
21Wisconsin Retirement System on the effective date of this subsection.
SB329,4,2222 (End)
Loading...
Loading...