Regulatory Flexibility Analysis 4
Fiscal Estimate and Economic Impact Analysis 4
Text of Rule 4
Department of Administration s. 227.137 Report None
Energy Impact Report None
Legislative Council Staff Clearinghouse Report 13
Response to Legislative Council Staff Recommendations 17
List of Persons Who Appeared or Registered at the Public Hearing 17
Summary of Public Comments 17
Modifications to the Rule as Originally Proposed as a Result of Public Comments 17
Modifications to the Analysis Accompanying the Proposed Rule 17
Modifications to the Fiscal Estimate 17
Board Authorization for Promulgation 17
Effective Date 17
Agency Person to be Contacted for Questions
Please direct any questions about the proposed rule to David Nispel, General Counsel, Department of Employee Trust Funds, P.O. Box 7931, Madison WI 53707. Telephone: (608) 264-6936. E-mail address: firstname.lastname@example.org.
Statement Explaining Need for Rule
This rule-making is needed to make technical updates to existing ETF rules, create consistency with statutes recently amended by the legislature, and to make other minor substantive changes.
Analysis Prepared by the Department of Employee Trust Funds
1. Statutes interpreted:
2. Statutory authority:
3. Explanation of agency authority:
By statute, the ETF Secretary is expressly authorized, with appropriate board approval, to promulgate rules required for the efficient administration of any benefit plan established in ch. 40 of the Wisconsin statutes.
In addition, each state agency may promulgate rules interpreting the provisions of any statute enforced or administered by the agency if the agency considers it necessary to effectuate the purpose of the statute.
4. Related statutes or rules:
There are no other related statutes or administrative rules directly related to this technical rule.
5. Plain language analysis:
The objective of this technical rule is to make technical updates to existing ETF rules, delete obsolete language in ETF rules, create consistency with provisions in 2013 Wisconsin Act 20 related to rehired annuitants, and make other minor substantive changes.
6. Summary of, and comparison with, existing or proposed federal statutes and regulations:
The only federal regulations that may be affected by this proposed rule are provisions of the Internal Revenue Code regulating qualified pension plans. The Wisconsin Retirement System is required to be maintained as a qualified plan by s. 40.015, Stats.
7. Comparison with rules in adjacent states:
Periodically, retirement systems in adjacent states promulgate technical rules to update existing administrative rules.
8. Summary of factual data and analytical methodologies:
The department is proposing this rule to update existing rules and interpretations of existing statutes.
9. Analysis and supporting documents used to determine effect on small business or in preparation of economic impact analysis:
This rule does not have an effect on small businesses because private employers and their employees do not participate in, and are not covered by, the Wisconsin Retirement System. Please see attached economic impact analysis.
10. Effect on small business:
The rule has no effect on small businesses.
Regulatory Flexibility Analysis:
The proposed rule has no effect on small businesses because only governmental employers and their employees may participate in the benefit programs under ch. 40 of the statutes administered by the Department of Employee Trust Funds.
Fiscal Estimate and Economic Impact Statement:
Please see the attached Fiscal Estimate and Economic Impact Statement.
Text of Proposed Rule
SECTION 1. ETF 10.01 (3e) is created to read: