AB68,232,10 3. One member who is elected by participating employees and is a public member and who is not a participant in or beneficiary of the Wisconsin Retirement System, with experience in actuarial analysis, audit functions, or finance related to an employee benefit plan or experience with significant administrative responsibility for a major insurer. It is the intent of the legislature that the member elected under this subdivision shall represent the interests of the taxpayers of this state and shall not be representative of public employee or employer interests.

AB68,73 Section 73 . 15.165 (title) of the statutes is amended to read:

AB68,232,12 15.165 (title) Same; attached boards and offices.

AB68,74 Section 74 . 15.165 (1) (b) of the statutes is amended to read:

AB68,232,17 15.165 (1) (b) For purposes of this section, annuitants are deemed to be employees in the last position in which they were covered by the Wisconsin retirement system, except that annuitants may not be elected, appointed or vote under sub. (3) (a) 1., 2., 4. or 7.

AB68,75 Section 75 . 15.165 (3) of the statutes is repealed.

AB68,76 Section 76 . 15.165 (5) of the statutes is created to read:

AB68,232,24 15.165 (5) Office of internal audit. There is created an office of internal audit that is attached to the department of employee trust funds under s. 15.03. The office shall be under the direction and supervision of an internal auditor who shall be appointed by the employee trust funds board in the classified service. The internal auditor shall report directly to the employee trust funds board.

AB68,77 Section 77 . 15.185 (4) of the statutes is created to read:

AB68,233,4 15.185 (4) Small business retirement savings board. (a) There is created a small business retirement savings board that is attached to the department of financial institutions under s. 15.03. The board shall consist of the following members:

AB68,233,5 1. The state treasurer or his or her designee.

AB68,233,6 2. The secretary of financial institutions or his or her designee.

AB68,233,9 3. One member who has a favorable reputation for skill, knowledge, and experience in the field of retirement saving and investments, appointed by the governor.

AB68,233,11 4. One member who has a favorable reputation for skill, knowledge, and experience relating to small business, appointed by the governor.

AB68,233,15 5. One member who is a representative of an association representing employees or who has a favorable reputation for skill, knowledge, and experience in the interests of employees in retirement saving, appointed by the speaker of the assembly.

AB68,233,18 6. One member who has a favorable reputation for skill, knowledge, and experience in the interests of employers in retirement saving, appointed by the president of the senate.

AB68,233,21 7. One member who has a favorable reputation for skill, knowledge, and experience in retirement investment products or retirement plan designs, appointed by the state treasurer.

AB68,233,22 8. One member appointed by the investment board.

AB68,233,24 9. One member appointed, notwithstanding s. 15.07 (4), by a majority vote of all of the members identified in subds. 1. to 8.

AB68,233,25 (b) The members under par. (a) 3. to 9. shall be appointed for 4-year terms.

AB68,78 Section 78. 15.185 (6) of the statutes is created to read:

AB68,234,3 15.185 (6) Office of the student loan ombudsman. There is created in the department of financial institutions an office of the student loan ombudsman.

AB68,79 Section 79. 15.197 (20) of the statutes is created to read:

AB68,234,7 15.197 (20) Spinal cord injury council. (a) There is created in the department of health services a spinal cord injury council that, except as provided in par. (b), consists of the following members appointed by the department for 2-year terms:

AB68,234,9 1. One member representing the University of Wisconsin School of Medicine and Public Health.

AB68,234,10 2. One member representing the Medical College of Wisconsin.

AB68,234,11 3. One member who has a spinal cord injury.

AB68,234,12 4. One member who is a family member of a person with a spinal cord injury.

AB68,234,13 5. One member who is a veteran who has a spinal cord injury.