An Act to amend 40.22 (1), 40.22 (2m) (intro.), 40.22 (2r) (intro.) and 40.22 (3) (intro.); to create 40.26 (7) of the statutes; Relating to: jailers and protective occupation annuitants in the Wisconsin Retirement System who are rehired by a participating employer. (FE)
Impact
The proposal is significant as it aligns the treatment of county jailers who opt out of the protective occupation classification with those who remain classified as protective occupation participants. This change may provide flexibility for local law enforcement agencies in managing their workforce while still ensuring that qualified personnel can return to service after retirement. The bill could lead to a more accessible and efficient reemployment process for these retirees, impacting local budgets and staffing levels positively, assuming it leads to an increase in experienced personnel filling roles that otherwise might remain vacant.
Summary
Senate Bill 105 is aimed at revising the regulations related to the Wisconsin Retirement System (WRS) specifically for individuals who have retired as protective occupation participants or county jailers. Under current legislation, retirees who are rehired by a participating employer must suspend their retirement annuity and cannot receive payments until they are no longer employed in a WRS-covered position. This bill introduces an exception to that rule for certain annuitants who do not have a prior agreement to return to work at the time of their initial retirement. This allows them to be rehired without affecting their annuity status if certain conditions are met.
Contention
While the bill seems to favor the reintegration of experienced individuals into the workforce, it may face scrutiny regarding the potential financial implications on the WRS and overall pension system. Some concerns might arise about whether allowing certain retirees to collect their retirement benefits while being rehired could strain the pension fund. Critics of the bill might argue that this change could encourage unnecessary rehiring of retirees instead of promoting new employment opportunities for younger generations. Nevertheless, supporters are likely to advocate for the experience and skills these retirees bring to their new roles.
Crossfiled
An Act to amend 40.22 (1), 40.22 (2m) (intro.), 40.22 (2r) (intro.) and 40.22 (3) (intro.); to create 40.26 (7) of the statutes; Relating to: jailers and protective occupation annuitants in the Wisconsin Retirement System who are rehired by a participating employer. (FE)
A bill for an act relating to benefits for members of the Iowa public employees' retirement system who are employed in a protection occupation.(See HF 967, HF 1023.)
Provides relative to annual retirement education for certain participating employers in the Municipal Police Employees' Retirement System (OR SEE ACTUARIAL NOTE FC)