Senate Bill 301 proposes significant changes to the Wisconsin Retirement System (WRS) regarding rehired annuitants. The bill repeals several existing statutes and amends others to allow annuitants who return to work for a WRS-participating employer the option to either suspend their annuity and become a participating employee or continue receiving 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 the repeal of specific provisions related to the suspension of annuities and the eligibility criteria for becoming a participating employee. Notably, it removes the requirement that an annuitant's annuity must be suspended if they return to work, thereby providing more flexibility for individuals in managing their retirement benefits. The changes aim to streamline the process for rehired annuitants and encourage their continued participation in the workforce while receiving 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)