SB449-SA4,1,107 40.03 (1) (am) Shall ensure that the Wisconsin retirement system complies
8with the internal revenue code as a qualified plan for income tax purposes and shall
9ensure that each benefit plan is administered in a manner consistent with all
10internal revenue code provisions that authorize and regulate the benefit plan.".

SB449-SA4,2,9

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1"2m. If the estate was the designated beneficiary under s. 40.02 (8) (a) 1. and
2the estate is closed prior to the payment of benefits payable under this chapter as a
3result of death of the participant and the estate is not reopened within 6 months after
4the department notifies the estate that a benefit is payable, the department shall pay
5the benefit to a beneficiary as determined under s. 40.02 (8) (a) 2. If the department
6is unable to locate any such beneficiary within 6 months, all such beneficiaries shall
7be presumed to have predeceased the participant and the benefit shall be considered
8irrevocably abandoned and shall be transferred to the employer accumulation
9reserve.".

SB449-SA4,2,17 14"(e) 1. Subject to subds. 2. to 4., if a participant dies before the distribution of
15benefits has commenced and the participant's beneficiary is the spouse, the
16department shall begin the distribution within 5 years after the date of the
17participant's death.

SB449-SA4,2,2018 2. If the spouse files a subsequent beneficiary designation with the department,
19the payment of the distribution may be deferred until the January 1 of the year in
20which the participant would have attained the age of 70.5 years.

SB449-SA4,2,2321 3. If the spouse does not apply for a distribution, the distribution shall begin
22as an automatic distribution as provided under subd. 1. or under par. (c), whichever
23distribution date is earlier.

SB449-SA4,3,2

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14. If the spouse dies, but has designated a new beneficiary, the birth date of the
2spouse shall be used for the purposes of determining the required beginning date.

SB449-SA4,3,43 5. The department shall specify by rule all procedures relating to an automatic
4distribution to the spouse. These rules shall comply with the internal revenue code.".

SB449-SA4,3,1513 40.25 (7) (g) The payment under par. (a) 5., in combination with any other
14required contributions or additional contributions, may not exceed the maximum
15contribution limit under section 415 of the internal revenue code.".