AB8: Bill Text

LRB-1359/1

FFK:jld

2017 - 2018 LEGISLATURE

2017 Assembly BILL 8

January 12, 2017 - Introduced by Representative Ott, by request of Department of Employee Trust Funds. Referred to Committee on Judiciary.

AB8,1,5 An Act to amend 40.23 (1) (am) 2. of the statutes; relating to: allowing a protective occupation participant who is at least age 50 and who is a part-time elected official to waive future Wisconsin Retirement System participation (suggested as remedial legislation by the Department of Employee Trust Funds).

Analysis by the Legislative Reference Bureau

This bill allows a protective occupation participant in the Wisconsin Retirement System who is at least 50 years of age, which is the minimum retirement age for a protective occupation participant, and who is also a part-time elected official to waive further participation in the WRS for his or her current and future service as a part-time elected official, after he or she terminates all of his or her other covered employment. The waiver allows the protective occupation participant to receive a retirement benefit while he or she is serving as a part-time elected official. Under current law, a WRS participant who is at least 55 years of age, which is the minimum retirement age for a participant who is not a protective occupation participant, and who is also a part-time elected official is allowed to waive participation in the WRS for his or her current and future service as a part-time elected official after he or she terminates all of his or her other covered employment.

The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:

AB8,1 Section 1. 40.23 (1) (am) 2. of the statutes is amended to read:

AB8,2,15 40.23 (1) (am) 2. Any participant who has attained age 55 and who is a participant because of employment other than part-time service as an elected official and who is also a participating employee because of part-time service as an elected official and any protective occupation participant who has attained age 50 and who is also a participating employee because of part-time service as an elected official may, after termination of all covered employment other than service as a part-time elected official, waive further participation under the fund for his or her current, and any future, part-time service as an elected official. Any election under this paragraph is irrevocable and is effective beginning the day after the date of election. Notwithstanding par. (a), any participant who elects under this paragraph may receive a retirement annuity for all service under the fund credited to the participant to the date he or she elects. The date a participant elects under this paragraph is deemed to be the date of separation from the last participating employer by which that participant was employed.

AB8,2,16 (End)