ETF 10.08(3)(a)4.
4. The effective date that the employer determines that the employer-employee relationship terminates, except that the effective date of the termination cannot be earlier than the date on which the employer notifies the employee of the termination.
ETF 10.08(3)(a)5.
5. The last date for which the employee receives earnings for personal services rendered to or on behalf of the employer. If the employer has granted an unpaid leave of absence for a period of time after this date, this subdivision does not apply.
ETF 10.08(3)(a)6.
6. The date on which the employee's voluntary resignation is effective as accepted by the employer or, if later, the date on which the employer receives the employee's notice of resignation.
ETF 10.08(3)(b)
(b) Any report of a termination is subject to review by the department. Notwithstanding
par. (a), the department is not bound by an employer's report and may determine a different termination date in accordance with this section and s.
40.02 (26), Stats., upon evidence satisfactory to the department.
ETF 10.08(3)(c)
(c) Except as expressly provided by law, no termination may be effective retroactive to a date earlier than the date on which the employee or employer notifies the other of the decision to terminate the participant's employment.
ETF 10.08 Note
Note: See ss.
ER 18.14 (4) and
21.03 (2) concerning termination retroactive to the date the leave of absence expired.
ETF 10.08(3)(d)
(d) No termination date may predate the last date for which the employee receives earnings for personal services rendered to or on behalf of the employer, except as provided in
sub. (2) (b) 1., and except that operation of s.
40.29, Stats., does not preclude termination of an employee prior to the expiration of a period for which the employee receives temporary disability compensation under s.
102.43, Stats.
ETF 10.08 History
History: Cr.
Register, June, 1998, No. 510, eff. 7-1-98;
CR 08-026: am. (2) (b) 4.
Register September 2009 No. 645, eff. 10-1-09;
CR 11-042: am. (1) (a), (2) (a), cr. (2) (b) (title), am. (2) (b) 2., cr. (2) (c) (title), (d) (title)
Register July 2012 No. 679, eff. 8-1-12.
ETF 10.10
ETF 10.10
Employee trust funds board and teachers retirement board elections. ETF 10.10(1)
(1) The purpose of this section is to set forth procedures for all elections of participating employees and annuitants to the employee trust funds board or the teachers retirement board, pursuant to ss.
15.16 (1) (d) and
(f),
15.165 (1) and
(3) (a) 1.,
2.,
6. and
7., and
40.03 (2) (p), Stats. Except where noted otherwise, the procedures established in this section shall apply for elections to either the employee trust funds board or the teachers retirement board.
ETF 10.10(1m)(b)
(b) "Election category" means the class of participating employees or annuitants who are eligible under s.
15.16 (1) (d) or
(f), or
15.165 (3) (a) 1.,
2.,
6. or
7., Stats., to vote to elect a member to the employee trust funds board or the teachers retirement board.
ETF 10.10(2)
(2) The secretary shall schedule an election when the term for an elective board position on the employee trust funds board or the teachers retirement board is due to expire or is vacated due to resignation, death or for any other reason. When a term is due to expire, the secretary shall schedule the election to assure that the election is completed and the new board member announced prior to the date the new term commences. If an elective board position is vacant for any reason other than the term expiring, the secretary shall schedule an election at a time determined by the secretary. The annuitant or participating employee elected in an election to fill a position vacated prior to the end of a term shall serve the remainder of the unexpired term.
ETF 10.10(3)
(3) Annuitants or participating employees shall be eligible to vote if they are an annuitant or participating employee in the election category for which the election is being held and meet the other voting eligibility requirements set forth in this section at the time ballots are printed for distribution to employers or annuitants and the department has record of their eligibility.
ETF 10.10(4)
(4) For a teacher employed in more than one employment location within an election category specified under s.
15.165 (3) (a) 1. or
2., Stats., the department shall send a ballot to only one location as determined by the department. For a teacher concurrently employed by both a public school and a technical college system district, the department shall send a ballot to both locations, and the teacher shall be eligible to vote in both categories specified under s.
15.165 (3) (a) 1. and
2., Stats.
ETF 10.10(6)
(6) Participating employees of the state department of public instruction; state department of health services; state technical college system; and the state educational communications board, who are classified as teachers under the Wisconsin retirement system, are not employed by a public school or a technical college system district and may not vote in any election to elect a teacher to serve on the teachers retirement board.
ETF 10.10(7)
(7) Any participating employee or annuitant satisfying the eligibility requirements of s.
15.165 (3) (a) 1.,
2.,
6. or
7., Stats., on the date he or she files nomination papers with the department and who plans to continue meeting the eligibility requirements when assuming office, if elected, may be nominated for election to the teachers retirement board or any annuitant meeting the eligibility requirements of s.
15.16 (1) (d), Stats., or any participating employee meeting the eligibility requirements of s.
15.16 (1) (f), Stats., on the date he or she files nomination papers with the department and who plans to continue meeting the eligibility requirements when assuming office, if elected, may be nominated for election to the employee trust funds board by satisfying the requirements of
pars. (a) to
(c) within the calendar dates established by the department. The department shall publish notice of the election, the nomination timetable and instructions for prospective candidates in the department's newsletter. Prospective candidates may obtain nomination petition forms from the department. A candidate shall do all of the following:
ETF 10.10(7)(a)
(a) Submit to the department a nominating petition, which shall contain at least 25 but no more than 50 valid signatures of participating employees or annuitants eligible to vote in that election, indicating the name and address of the signer's employer, the signer's social security number and the date signed. For annuitants, the name and address of the signer's employer shall be that of the signer's last participating employer in the Wisconsin retirement system, if the candidate is seeking election to the employee trust funds board, or the signer's last public school or technical college system school employer, if the candidate is seeking election to the teachers retirement board. If more than 50 signatures are submitted, the department shall review for validity only the first 50 signatures based on the earliest date signed and disregard the balance.
ETF 10.10(7)(b)
(b) Certify that the signers are, to the best of the candidate's knowledge, eligible to vote in the election category for which the candidate is running.
ETF 10.10(7)(c)
(c) Submit to the department biographical or other information containing no more than 100 words. The department shall print no more than the first 100 words of the candidate's information and send it to eligible voters with the ballots.
ETF 10.10(8)
(8) The department shall print ballots with the candidates' names in alphabetical order and shall include, when the ballots are distributed, instructions for marking the ballot and the deadline for its return. For elections in which participating employees may vote, the department shall send each employer one ballot individually labeled with the participating employee's name for each participating employee in the election category for which the election is being held who is employed by the employer and whose position is known to the department. A distribution list, prepared by the department and containing the names of participating employees for whom ballots are included, shall accompany the ballots. The department shall require employers to verify, by signing the distribution list, that the employer distributed the ballots within 30 days of the date they were mailed by the department. The employer shall indicate on the distribution list which ballots could not be distributed and shall return the undistributed ballots. For annuitant elections, the department shall send a ballot directly to each annuitant who is eligible to vote in that election at the last home address the department has on file.
ETF 10.10(9)
(9) All voters shall certify their eligibility to vote in the appropriate election category by signing the ballot and returning it in an envelope.
ETF 10.10(10)
(10) The teachers retirement board shall appoint an election committee that shall consist of the secretary of the department or the secretary's designee and 2 teachers retirement board members not running for reelection to determine the election results. The employee trust funds board shall appoint an election committee which shall consist of the secretary of the department or the secretary's designee and 2 employee trust funds board members who are not running for reelection to determine the election results. A majority of the election committee appointed by the respective boards shall determine the validity of ballots set aside by the department and certify the election results.
ETF 10.10(11)
(11) The department shall review each ballot by checking the signature against the name on the ballot. The department shall set aside ballots that it believes may be invalid under
pars. (a) to
(d) for review by the election committee. The election committee shall deem a ballot invalid if any of the following apply:
ETF 10.10(11)(d)
(d) A ballot is so defective that the committee cannot determine with reasonable certainty for whom the ballot was cast.
ETF 10.10(12)
(12) If the number of candidates who file nomination papers is equal to or less than the number of positions to be filled within an election category, the department shall not schedule an election and the election committee shall declare all candidates to be elected.
ETF 10.10(13)
(13) If there is more than one teachers retirement board position to be filled in an election category and an election is held, voters may vote for as many candidates, in the appropriate election category, as there are positions to be filled.
ETF 10.10(15)
(15) Candidates receiving the largest number of votes shall be elected. The election committee shall break a tie by the drawing of lots. The counting of ballots shall be conducted under the direction of the secretary or his or her designee.
ETF 10.10(16)
(16) For elections scheduled because a term is due to expire, the department shall notify all candidates of the results before May 1 following the close of the election. If the department calls an election for any reason other than the expiration of a term, the department shall notify all candidates of the results of the election within 15 days of the close of the election.
ETF 10.10(17)
(17) The department shall retain nominating petitions and ballots for 45 days from the date the candidates are notified in
sub. (16). If a candidate wishes to request a recount, the candidate shall submit the request to the department within 30 days of the date the candidates are notified of the election results. A recount shall be conducted under the direction of the secretary or his or her designee.
ETF 10.10 History
History: Cr.
Register, March, 1984, No. 339, eff. 4-1-84; r. (5) and am. (7) (intro.),
Register, January, 1985, No. 349, eff. 2-1-85; am. (10),
Register, September, 1992, No. 441, eff. 10-1-92; am. (1) to (7) (a), (7) (c) to (11) (b), (d), (12), (13) and (15) to (17), cr. (1m) and (11) (e), r. (14),
Register, April, 1993, No. 448, eff. 5-1-93; corrections made under s 13.93 (2m) (b) 6., Stats.,
Register, July, 1997, No. 499; am. (1), (1m) (b) and (7) (intro.),
Register, December, 2000, No. 540, eff. 1-1-01; correction in (6) made under s. 13.92 (4) (b) 6., Stats.,
Register September 2009 No. 645.
ETF 10.12
ETF 10.12
Separate retirement system participation in the retirement trust fund. ETF 10.12(1g)
(1g)
Procedure. The governing body of a separate retirement system qualifying under
sub. (5) may request participation in the retirement trust fund by the adoption of a resolution accepting the provisions of this section in a form approved by the department. A certified copy of the resolution shall be forwarded to the department and participation shall be effective on the first day of the month following board approval of the resolution under s.
40.03 (1) (n), Stats. Funds may be delivered or sent to the department subject to this section.
ETF 10.12(1r)(a)(a) Deposits shall be made in accordance with instructions issued by the department.
ETF 10.12(1r)(b)
(b) The separate retirement system may designate any portion of its deposit for investment in the variable retirement investment trust. Deposits shall be invested in the core retirement trust unless otherwise designated.
ETF 10.12(1r)(c)
(c) The separate retirement system shall provide the department 30 days advance notice of any deposit in excess of $10 million. This requirement may be waived by the secretary.
ETF 10.12(1r)(d)
(d) Deposits in the core and variable retirement investment trusts shall be accepted on the last working day of the month only, even if actually received earlier. Each investment shall be effective the last day of the month for purposes of investment valuation.
ETF 10.12(2)
(2) Investment valuation. Investments by a separate retirement system shall be valued as follows:
ETF 10.12(2)(a)
(a) The current market values of the core and variable retirement investment trusts shall be determined as of the close of the last calendar day of the month.
ETF 10.12(2)(b)
(b) The market gain or loss of the core and variable retirement investment trusts shall each be determined for the month, net of administrative and investment costs.
ETF 10.12(2)(c)
(c) Each separate retirement system's share of the respective retirement investment trust's market gain or loss shall be determined and credited effective the close of the last calendar day of the month.
ETF 10.12(2)(d)
(d) Each separate retirement system's share of the retirement investment trust's market gain or loss shall be calculated as the total retirement investment trust's gain or loss multiplied by that separate retirement system's proportionate share of the average daily net assets available for investment during the month.
ETF 10.12(2)(e)
(e) The core or variable retirement investment trust's average daily net assets available for investment during the month shall be calculated as the sum of its daily beginning asset balances divided by the number of calendar days in the month.
ETF 10.12 Note
Note: This rule (
CR 09-057) replaces the term "fixed", when referring to the retirement investment trust, with the term "core" when referring to that retirement investment trust.
2005 Wis. Act 153 changed the name of the Fixed Fund to the Core Fund. This rule replaces the term "fixed" with the term "core" wherever it appears in the ETF administrative rules, specifically in ss.
ETF 10.12 (1b) (b) and
(d) and
(2) (a) (b) and
(e);
10.25 (intro.),
(1) (a) and
(b),
(2),
(3) (intro.),
(b),
(c) and
(d) and
(4);
10.30 (4) (a) and
(b),
(5) (a) 1.,
2.,
3. b., and
(f);
11.16 (2) (a);
20.23 (2); and
20.25 (intro.),
(1) (a) and
(2).
ETF 10.12(2)(f)
(f) Each separate retirement system's average daily net assets available for investment during the month shall be calculated as the sum of its daily beginning asset balances divided by the number of calendar days in the month.
ETF 10.12(3)
(3) Reports. The department shall provide, at least quarterly, each separate retirement system a report showing all transactions in its account during the preceding quarter and the current value of the system's investment.
ETF 10.12(4)(a)(a) Requests for withdrawal of funds shall be on a form prescribed by and in accordance with instructions issued by the department.
ETF 10.12(4)(b)
(b) The separate retirement system shall provide the secretary no less than 21 days advance notice of any withdrawal.
ETF 10.12(4)(c)
(c) Withdrawals by a separate retirement system shall be limited in any calendar month to one withdrawal paid on the last working day of the month of the greater of:
ETF 10.12(4)(c)1.
1. 5% of the system's balance on deposit or as was last calculated by the department,
ETF 10.12(4)(c)3.
3. Such other amount as the secretary, after consulting with respect to each withdrawal with the executive director of the state of Wisconsin investment board, determines may be withdrawn without necessitating the premature liquidation of any investment or imprudently reducing cash holdings of the trust fund or otherwise causing actual harm to the participants of the Wisconsin retirement system who have a beneficial interest in the trust fund and its earnings.
ETF 10.12(4)(d)
(d) For investment valuation purposes, withdrawals shall be treated as if effective at the close of the last calendar day of the month.
ETF 10.12(4)(e)
(e) If a separate retirement system's balance on deposit drops below $2 million, that system's investment shall be refunded and the account closed.
ETF 10.12(5)(a)(a) "Separate retirement system" for purpose of this section and s.
40.03 (1) (n) and
(2) (q), Stats., means a pension benefit plan which is all of the following:
ETF 10.12(5)(a)1.
1. Established by the state or a political subdivision of the state which is also a participating employer subject to the provisions of the Wisconsin retirement system under s.
40.21, Stats.
ETF 10.12(5)(a)3.
3. Qualified for federal tax purposes under the applicable provisions of the internal revenue code.
ETF 10.12(5)(a)4.
4. Maintained and administered for the exclusive benefit of the employees of that employer and their beneficiaries.
ETF 10.12(5)(b)
(b) Any separate retirement system that fails to certify upon the department's request, and at least annually, that it continues to meet the criteria of
par. (a), and any separate retirement system that the department determines does not meet the criteria of
par. (a), shall be compelled to withdraw its entire investment as rapidly as permitted under
sub. (4).
ETF 10.12(6)
(6) Termination of program. The employee trust funds board or the secretary of the department may close the investment option under s.
40.03 (1) (n), Stats., to any or all separate retirement systems and compel withdrawal of investments under
sub. (4) if the board or the secretary determines that the separate retirement system investment interferes with the duty to manage, administer, invest and otherwise deal with the public employee trust fund solely for the benefit of the participants in the benefits plans under
ch. 40, Stats., and their beneficiaries as provided in that chapter.
ETF 10.12 Note
Note: This rule requires a form which is available at no charge. The form can be obtained by writing to: department of employee trust funds, P.O. Box 7931, Madison, WI 53707-7931, or by calling: (608) 266-3285 or toll free at (877) 533-5020.
ETF 10.12 History
History: Cr.
Register, October, 1985, No. 358, eff. 11-1-85; am. (2) (e) and (f),
Register, December, 1990, No. 420, eff. 1-1-91; am. (4) (b) and (c) and r. (4) (d),
Register, June, 1998, No. 510, eff. 7-1-98;
CR 05-114: renum. (intro.) to be (1g) and am., renum. (1) (a), (b) and (c) to be (1r) (a), (b) and (c), r. (1) (d), cr. (1r) (d), (4) (d), (5) and (6), r. and recr. (2), am. (4) (c) (intro.)
Register September 2006 No. 609, eff. 10-1-06;
CR 09-057: am. (1r) (b), (d), (2) (a), (b) and (e)
Register May 2010 No. 653, eff. 6-1-10.
ETF 10.15
ETF 10.15
Annuity reserves. The amounts credited to and the liabilities of the reserves for annuities granted shall be determined by the actuary on the basis of separate male-female experience with adjustments as necessary to reflect actual and projected experience of participants under the retirement system and not on the basis of the combined male-female experience used in individual benefit computations.
ETF 10.15 History
History: Renum. from ETF 7.07 and am.
Register, December, 1983, No. 336, eff. 1-1-84.
ETF 10.20
ETF 10.20
Approval of group insurance plans for state employees. ETF 10.20(1)(1) In addition to group insurance plans specifically provided in
ch. 40, Stats., and pursuant to s.
20.921 (1) (a) 3., Stats., the group insurance board shall approve or disapprove group insurance plans for which payment of premiums is made through payroll deductions.
ETF 10.20(1)(a)
(a) The group insurance board shall determine, after notice and hearing, whether the group insurance plan fulfills an important coverage need through consideration of, but not limited to, the following factors:
ETF 10.20(1)(a)3.
3. Adequacy of other approved coverage providing the same or similar protection.
ETF 10.20(1)(a)5.
5. History, performance and acceptance of the plan by the employees.
ETF 10.20(1)(b)
(b) The group insurance board shall determine whether the plan is adequately supervised through consideration of, but not limited to, the following factors:
ETF 10.20(1)(b)1.
1. Continuing representation of employee participants with professional insurance guidance.
ETF 10.20(1)(b)2.
2. Maintenance of adequate statistical records relating to retentions, experience, premiums, participants and other data necessary for actuarial computations.
