Various changes to the Wisconsin Retirement System, cancelling coverage under the Wisconsin Public Employers Group Life Insurance Program, and income continuation insurance premiums for certain teachers employed by the University of Wisconsin System (suggested as remedial legislation by the Department of Employee Trust Funds)

The bill allows a protective occupation participant in WRS who is at least 50 years of age, which is the minimum retirement age for a protective occupation participant, and who is also a part-time elected official to waive further participation in WRS for his or her current and future service as a part-time elected official, after he or she terminates all of his or her other covered employment. The waiver allows the protective occupation participant to receive a retirement benefit while he or she is serving as a part-time elected official. Under current law, a WRS participant who is at least 55 years of age, which is the minimum retirement age for a participant who is not a protective occupation participant, and who is also a part-time elected official is allowed to waive participation in WRS for his or her current and future service as a part-time elected official after he or she terminates all of his or her other covered employment.

The bill eliminates the requirement that a form to cancel coverage under the Wisconsin Public Employers Group Life Insurance Program takes effect at the end of the calendar month that begins after the form is received from an insured employee.

Under current law, the Board of Regents of the University of Wisconsin System pays the gross premium for income continuation insurance coverage for teachers employed by UW System who have more than one year of state service, subject to a 130-day waiting period. This bill changes the waiting period from 130 days to 180 days.

For further information, see the Notes provided by the Law Revision Committee of the Joint Legislative Council.