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: law enforcement and firefighter annuitants in the Wisconsin Retirement System who are rehired by a participating employer. (FE)
Impact
If enacted, SB35 will have a significant impact on the operations of law enforcement agencies and fire departments in Wisconsin. It is anticipated to make it easier for these agencies to rehire experienced personnel without the additional financial burden of suspending retirement benefits. This could address the staffing shortages often faced by these critical services, as they can tap into a pool of qualified retirees willing to return to work on a flexible basis.
Summary
Senate Bill 35 seeks to amend the statutes related to the Wisconsin Retirement System (WRS) specifically for retired law enforcement officers and firefighters. The bill allows these annuitants to be rehired by WRS-participating employers while still receiving their retirement annuity, under certain conditions. Previously, if a retiree from the WRS took up a position with a participating employer, their annuity payments would be suspended until they left the WRS-covered position. This bill creates an exception specifically for retired law enforcement and firefighters, enabling them to work without the loss of their retirement benefits.
Contention
Debate around SB35 may center on the balance between attracting experienced personnel and the financial implications of extending retirement benefits while rehiring. Some lawmakers may express concerns that allowing annuitants to work while collecting retirement benefits could set a precedent that might be seen as undermining the integrity of the retirement system. Critics may also argue about the need for equitable treatment of all retirees within the WRS, suggesting that exceptions for specific professions could lead to calls for similar exceptions in other sectors.
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: law enforcement and firefighter annuitants in the Wisconsin Retirement System who are rehired by a participating employer. (FE)
RETIREMENT/FIREFIGHTERS: Requests the actuary for the legislative auditor, in consultation with the actuaries of the two retirement systems, to study the cost and feasibility of merging firefighter members of the Baton Rouge City Parish Employees' Retirement System into the Firefighters' Retirement System
Public retirement systems; cost-of-living increases; Firefighters Pension and Retirement System; Police Pension and Retirement System; Uniform Retirement System for Justices and Judges; Law Enforcement Retirement System; Teachers' Retirement System; Public Employees Retirement System; codification; effective dates; contingent effective dates; emergency.