Amendment ASA3-AB426

LRBs0401/1

RAC:jlg:jf

1999 - 2000 LEGISLATURE

ASSEMBLY SUBSTITUTE AMENDMENT 3, TO 1999 ASSEMBLY BILL 426

March 14, 2000 - Offered by Representative Staskunas.

AB426-ASA3,1,2 An Act to create 20.515 (1) (bm) of the statutes; relating to: death benefits provided under the Wisconsin retirement system and making an appropriation.

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

AB426-ASA3, s. 1 Section 1. 20.515 (1) (bm) of the statutes is created to read:

AB426-ASA3,1,5 20.515 (1) (bm) Increased death benefits. A sum sufficient to pay the cost of death benefits granted under 1999 Wisconsin Act .... (this act), section 2 (1 ).

AB426-ASA3, s. 2 Section 2 . Nonstatutory provisions.

AB426-ASA3,2,4 (1) Death benefits under the Wisconsin retirement system. If a person was a participating employe in the Wisconsin retirement system on June 30, 1999, with at least 25 years of creditable service under the Wisconsin retirement system, and died before December 30, 1999, and the person's beneficiary was eligible to receive a death benefit under section 40.73 (1) (a) (intro.), 1997 stats., the department of employe trust funds shall pay the person's beneficiary, from the appropriation under section 20.515 (1) (bm) of the statutes, as created by this act, an additional death benefit equal to the amount of the person's employe required contribution accumulations, determined as of January 1, 1999.

AB426-ASA3,2,5 (End)