Department of Employee Trust Funds
Employee Trust Fund Board
Wisconsin Retirement Board
Teachers Retirement Board
Group Insurance Board
Deferred Compensation Board
FINAL DRAFT REPORT ON CLEARINGHOUSE RULE #14-055
An order to repeal ETF 10.01 (3i) (Note), 20.01, 20.17 (2) (d), 20.35 (9), 20.37 (2) (e), ch. ETF 41, 70.09 (5), 70.10 (2) (c), and (3) to (5); to amend ETF 10.01 (3i), 10.03 (1), 10.08 (2) (a) and (c) 2. and 3., 10.60 (2), 10.633 (1) (a) to (c), 11.04 (5) (e), 20.02 (2) (b) and (c), 20.02 (3) (c), 20.025 (2), 20.17 (2) (f) 1. (intro.), (4) (b) 3. b., (c) 7. (intro.), a. and e., 20.35 (3) (d) 4., 40.01 (1) (b) (title), (1) (b), (1) (c) (title), and (2m) (a) and (b), 50.48 (1), (2) (Note), (3) (a), (b) 5., (4) (b) 3., and (c), 50.50 (1) (c) 2. and (5) (b), 50.52 (1) (b) 3., 60.60 (5) (c) and (f), 70.02 (11), 70.05 (1) (a) 1., 70.07 (1) (a), (d), (e), and (i), 70.10 (2) (intro.) and (d), 70.12 and 70.15; to repeal and recreate ETF 20.02 (3) (a) and 20.17 (4) (c) 6.; and to create ETF 10.01 (3e), 20.02 (3) (d), 20.17 (4) (c) 8., and 52.16 (5) (c); relating to technical and minor substantive changes in existing ETF administrative rules.
Agency Person to be Contacted for Questions 2
Statement Explaining Need for Rule 2
Analysis Prepared by Department of Employee Trust Funds 2
Statutes interpreted 2
Statutory authority 2
Explanation of agency authority 3
Related statutes or rules 3
Plain language analysis 3
Summary of, and comparison with, existing or proposed federal regulations 3
Comparison with rules in adjacent states 3
Summary of factual data and analytical methodologies 3
Analysis and documentation concerning effect on small businesses 3
Statement of effect on small business 3
Regulatory Flexibility Analysis 4
Fiscal Estimate and Economic Impact Analysis 4
Text of Rule 4
Department of Administration s. 227.137 Report None Energy Impact Report None
Legislative Council Staff Clearinghouse Report 13
Response to Legislative Council Staff Recommendations 17
List of Persons Who Appeared or Registered at the Public Hearing 17
Summary of Public Comments 17
Modifications to the Rule as Originally Proposed as a Result of Public Comments 17
Modifications to the Analysis Accompanying the Proposed Rule 17
Modifications to the Fiscal Estimate 17
Board Authorization for Promulgation 17
Effective Date 17
Agency Person to be Contacted for Questions
Please direct any questions about the proposed rule to David Nispel, General Counsel, Department of Employee Trust Funds, P.O. Box 7931, Madison WI 53707. Telephone: (608) 264-6936. E-mail address: david.nispel@etf.wi.gov. Statement Explaining Need for Rule
This rule-making is needed to make technical updates to existing ETF rules, create consistency with statutes recently amended by the legislature, and to make other minor substantive changes.
Analysis Prepared by the Department of Employee Trust Funds
1. Statutes interpreted:
2. Statutory authority:
3. Explanation of agency authority:
By statute, the ETF Secretary is expressly authorized, with appropriate board approval, to promulgate rules required for the efficient administration of any benefit plan established in ch. 40 of the Wisconsin statutes. In addition, each state agency may promulgate rules interpreting the provisions of any statute enforced or administered by the agency if the agency considers it necessary to effectuate the purpose of the statute.
4. Related statutes or rules:
There are no other related statutes or administrative rules directly related to this technical rule.
5. Plain language analysis:
The objective of this technical rule is to make technical updates to existing ETF rules, delete obsolete language in ETF rules, create consistency with provisions in 2013 Wisconsin Act 20 related to rehired annuitants, and make other minor substantive changes. 6. Summary of, and comparison with, existing or proposed federal statutes and regulations:
The only federal regulations that may be affected by this proposed rule are provisions of the Internal Revenue Code regulating qualified pension plans. The Wisconsin Retirement System is required to be maintained as a qualified plan by s. 40.015, Stats.
