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 is contingent upon certain conditions, including the requirement that the rehired annuitant does not have an agreement to return to work with a participating employer at the time of their termination. Additionally, the bill mandates that employers hiring these annuitants make payments to the Department of 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. Furthermore, it amends several sections of the statutes to reflect these changes, including the replacement of references to the repealed provisions and the creation of new sections that outline the conditions under which rehired annuitants can maintain their annuity status. Overall, the bill aims to provide more flexibility for retired individuals returning to work while ensuring that employers contribute appropriately to the retirement system.

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