Assembly Bill 376 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. Additionally, the bill reduces the waiting period for a WRS participant who has applied for a retirement annuity from 75 days to 30 days before they can return to covered 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 concerning the inclusion of employees in the WRS. Notably, it removes the requirement that an annuity must be suspended if a participant returns to work, thereby providing more flexibility for annuitants. The changes aim to streamline the process for rehired annuitants and enhance their options regarding 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)