ETF 20.02(2)(b) (b) The seventy-sixth day after the date participating employment terminated.

ETF 20.02(3) (3) Required contributions.

ETF 20.02(3)(a) (a) The department shall include a rehired annuitant under the provisions of the Wisconsin retirement system as a participating employee if any of the following conditions apply:

ETF 20.02(3)(a)1. 1. A rehired annuitant who terminated participating employment prior to July 2, 2013, is employed in a position which meets the requirement for participation specified in s. 40.22, Stats., and files with the department a written election to be included under the provisions of the Wisconsin retirement system as a participating employee. The election shall be on a form provided by the department.

ETF 20.02(3)(a)2. 2. A rehired annuitant who terminated participating employment after July 1, 2013, is employed in a position which meets the requirement for participation specified in s. 40.22, Stats., and files with the department a written election to be included under the provisions of the Wisconsin retirement system as a participating employee. The election shall be on a form provided by the department. This subsection does not apply to a rehired annuitant who meets the requirements of s. 40.26 (1m) (a), Stats.

ETF 20.02(3)(a)3. 3. The rehired annuitant meets the requirements for suspension of the annuity under s. 40.26 (1m) (a), Stats.

ETF 20.02(3)(c) (c) An election filed pursuant to par. (a) 1. or 2. shall take effect on the first day of the month following its receipt by the department. The department shall suspend the annuity on the day prior to the effective date of the election, unless the department receives the rehired annuitant’s written notice revoking the election prior to the effective date of the election.

ETF 20.02(3)(d) (d) A suspension of an annuity pursuant to par. (a) 3. shall take effect on the first day of the month following the date the annuitant is rehired.

ETF 20.02(4) (4) Employer reporting. Employers shall report to the department all rehired employees receiving an annuity from the Wisconsin retirement system, regardless of whether the employee qualifies as a rehired annuitant under this section and whether the employee’s position meets the qualifications for inclusion under s. 40.22, Stats. Employers shall report rehired annuitants in the manner, form, and at the time requested by the department.

ETF 20.02 Note Note: A rehired annuitant or employer may obtain a copy of the “Rehired Annuitant Election” form, ET-2319, required by s. ETF 20.02 at no charge by writing to: department of employee trust funds, P.O. Box 7931, Madison, WI 53707-7931, or by calling: [phone] or toll free at [phone]. The form also is available on the department’s website: etf.wi.gov.

ETF 20.02 History History: Emerg. cr. eff. 7-1-83; cr. Register, October, 1983, No. 334, eff. 11-1-83; r. and recr. Register, October, 1992, No. 442, eff. 11-1-92; correction in (3) (a) 2. made under s. 13.93 (2m) (b) 7., Stats., Register, July, 1999, No. 523; am. (1) and (3) (a) 3., r. and recr. (2) and r. (3) (a) 2., (b), (4) and (5), Register, August, 2000, No. 536, eff. 9-1-00; CR 11-042: am. (1), cr. (2) (title), (3) (title), (4) Register July 2012 No. 679, eff. 8-1-12; CR 14-055: am. (2) (b), (c), r. and recr. (3) (a), am. (3) (c), cr. (3) (d) Register May 2015 No. 713, eff. 6-1-15; CR 19-126: r. (2) (c) Register May 2021 No. 785, eff. 6-1-21.

ETF 20.025 ETF 20.025 Minimum retirement age.

ETF 20.025(1) (1) Regular retirement annuities and lump sums in lieu of an annuity. The earliest age at which a person may qualify to receive an annuity under s. 40.23 or 40.24, Stats., or a lump sum in lieu of an annuity under s. 40.25 (1), Stats., is the minimum retirement age.

ETF 20.025(2) (2) Separation benefits. An application for a lump sum benefit under s. 40.25 (2), Stats., must be received by the department before the applicant has reached minimum retirement age unless the applicant is eligible for a lump sum benefit under s. 40.23 (2m) (er) or 40.23 (3) (b), Stats.

ETF 20.025 Note Note: The term “minimum retirement age” currently is not used in ch. 40, Stats. or ETF administrative rules., except for ss. ETF 10.01 (3o) and 20.025 as proposed in this rule (CR 09-057). The term is defined in this rule to be consistent with s. 40.23 (1) (a) (intro.), Stats., which is implicitly referenced by s. 40.25 (1) (a), Stats., and with s. 40.25 (2), Stats.

ETF 20.025 History History: CR 09-057: cr. Register May 2010 No. 653, eff. 6-1-10; CR 14-055: am. (2) Register May 2015 No. 713, eff. 6-1-15.

ETF 20.0251 ETF 20.0251 Exclusive benefit.

ETF 20.0251(1) (1) The Wisconsin retirement system is maintained for the exclusive benefit of participants and their beneficiaries.

ETF 20.0251(2) (2) No contributions or earnings on contributions may revert, and no contributions may be permitted to be returned to a participating employer, except as permitted by Revenue Ruling 91-4.

ETF 20.0251 Note Note: Revenue Ruling 91-4 provides for circumstances under which money contributed by a participating employer may be returned to the employer. A copy of the ruling may be obtained by writing: Superintendent of Documents, P.O. Box 979050, St. Louis, MO 63197-9000.

ETF 20.0251 History History: CR 13-004: cr. Register August 2013 No. 692, eff. 9-1-13.

ETF 20.03 ETF 20.03 Annuity computations.

ETF 20.03(1) (1) For purposes of annuity computations, an applicant’s age shall be determined to the nearest month.

ETF 20.03(2) (2) For purposes of determining maximum benefits under s. 40.23 (2), Stats., and accelerated benefits under s. 40.24 (4), Stats., except as provided to the contrary in s. ETF 20.35 (4) (c), the estimated OASDHI benefit shall be based on the following:

ETF 20.03 Note Note: 2007 Wis. Act 131 revised s. 40.24 (1) (e), Stats., for annuities effective after July 1, 2008 to remove the alternative provision terminating the temporary annuity portion of the benefit at death and thereby made the temporary annuity an annuity certain payable until the annuitant would have reached age 62. Once called “Social Security Integrated” or “integrated” annuities, these two-part annuity options are now known as accelerated annuity options. This rule (CR 09-057) updates the last remaining reference in the administrative rules to an “integrated” annuity benefit.

ETF 20.03(2)(a) (a) It shall be assumed that the employee has been in a position covered under OASDHI from the year in which age 30 was attained to the year of retirement or death, except that years in which earnings are reported under s. 40.05 (1) (a) 4., Stats., shall not be counted.

ETF 20.03(2)(b) (b) It shall be assumed that covered earnings increased from the year in which age 30 was attained to the year of retirement or death at a rate determined by the actuary to reflect changes in the OASDHI wage base and approximate average changes in earnings during that time.

ETF 20.03(2)(bm) (bm) With respect to accelerated annuity options under s. 40.24 (1) (e), Stats., or s. ETF 20.04 (3), that become effective on or after July 1, 2008, the temporary annuity portion is payable in all cases until the annuitant reaches, or would have reached, age 62, without regard for an earlier date of death. The actuary shall make all tables, other assumptions and calculations relevant to the accelerated annuity benefit accordingly.

ETF 20.03 Note Note: 2007 Wis. Act 131 revised s. 40.24 (1) (e), Stats., for annuities effective after July 1, 2008 to remove the alternative provision terminating the temporary annuity portion of the benefit at death and thereby made the temporary annuity an annuity certain payable until the annuitant would have reached age 62. This rule (CR 09-057) requires the actuary’s assumptions, tables and calculations to take into account that the temporary portion of future accelerated annuity benefits will be an annuity certain.