Assembly Bill 196 proposes significant changes to the Wisconsin Retirement System (WRS) regarding rehired annuitants. The bill allows individuals who receive a retirement or disability annuity from the WRS and are subsequently hired by a WRS-participating employer to not suspend their annuity for up to 60 months. This change applies to those who are expected to work at least two-thirds of what is considered full-time employment. Additionally, the bill mandates that employers hiring these annuitants make payments to the Employee Trust Funds (ETF) equivalent to the contributions that would have been required if the annuitant had suspended their annuity.

The bill also repeals two obsolete provisions related to WRS annuitants returning to work during the public health emergency declared in March 2020. It amends several sections of the statutes to reflect these changes, including the replacement of references to the repealed provisions and the creation of new sections that outline the conditions under which rehired annuitants can maintain their annuity status. Specifically, it repeals sections 40.26 (5m) and (6) and introduces new sections 40.26 (7) and (8) to clarify the eligibility and employer obligations regarding rehired annuitants.

Statutes affected:
Bill Text: 40.22(1), 40.22, 40.22(2m)(intro.), 40.22(2r)(intro.), 40.22(3)(intro.), 40.26(1m), 40.26, 40.26(5)(intro.), 40.26(5m), 40.26(6), 323.19(3), 323.19