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News

Department of Employee Trust Funds - Hot Topic
April 28, 2005

Retirement Legislation Proposed

The Department is currently reviewing Assembly Bill 361, which would raise the minimum age at which participants in the Wisconsin Retirement System could qualify for a state pension from age 55 to 59.5. The bill would not change the minimum retirement age of 50 for protective occupation participants such as law enforcement and firefighters.

Based on our analysis, we believe the bill raises some legal issues since it would change statutorily guaranteed benefits related to the minimum retirement age.

Once a bill is introduced, there is a lengthy process of further analysis of the bill through committee hearings, legislative review, and fiscal estimates. Because of the legal issues this bill raises, it will likely face considerable scrutiny and opposition.

We will continue to review and monitor the progress of this bill and any changes that may be forthcoming. As updates occur, we will post those right here on our Internet site.

Review the Department's Bullet Point Summary of AB361

 

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