Senate Bill 301 proposes significant changes to the Wisconsin Retirement System (WRS) regarding rehired annuitants. The bill allows annuitants who return to work for a WRS-participating employer to choose between suspending their annuity and becoming a participating employee or continuing to receive their annuity without becoming a participating employee. This change eliminates the previous requirement that mandated the suspension of an annuity for returning annuitants. Additionally, the bill reduces the waiting period for a WRS participant to return to covered employment from 75 days to 30 days after terminating employment.

The bill also includes several deletions and amendments to existing statutes. Specifically, it repeals sections related to the suspension of annuities and modifies provisions that previously required annuitants to suspend their benefits upon re-employment. The amendments clarify the conditions under which employees can be included in the WRS and streamline the process for returning employees, thereby enhancing flexibility for annuitants re-entering the workforce. Overall, the bill aims to provide more options for individuals in the WRS while simplifying the rules governing their employment and retirement benefits.

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