AB539-ASA1,2,113
40.23
(3) Except as provided in par. (b), the The initial monthly amount of any
4retirement annuity in the normal form shall not be less than the money purchase
5annuity which can be provided by applying the sum of the participant's accumulated
6additional and required contributions, including interest credited to the
7accumulations, plus an amount from the employer accumulation reserve equal to the
8participant's accumulated required contributions, less any accumulated
9contributions to purchase other governmental service under s. 40.25 (7), 2001 stats.,
10or s. 40.285 (2) (b) to fund the annuity in accordance with the actuarial tables in effect
11on the annuity effective date.
AB539-ASA1,2,1917
(1) This act first applies to participating employees under the Wisconsin
18Retirement System who terminate covered employment under the Wisconsin
19Retirement System on the effective date of this subsection.