SB449-SA5,1,108 40.02 (45) "Participant" means any person included within the provisions of
9the Wisconsin retirement system by virtue of being or having been a participating
10employe whose account has not been closed under s. 40.25 (1), or (2) or (2m).".

SB449-SA5,2,213 40.04 (4) (a) 2m. Debited, if a participant terminates covered employment on
14or after January 1, 1990, and applies for a benefit under s. 40.25 (2) or (2m), with an
15amount equal to the amount by which the fixed annuity division interest credited on

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1or after January 1, 1990, to employe required contributions, exceeds the interest
2crediting at an annual rate of 3% on each prior year's closing balance.".

SB449-SA5,2,105 40.22 (3m) Any employe who becomes a participating employe shall continue
6to be a participating employe notwithstanding sub. (2) (a) or (b) for periods of
7subsequent employment with that state agency or other participating employer
8unless the employment with the state agency or other participating employer is
9terminated for 12 or more consecutive calendar months or unless the employe
10receives a benefit under s. 40.23, 40.25 (1), or (2) or (2m) or 40.63.".

SB449-SA5,3,514 40.23 (1) (am) 2. Any participant who has attained age 55 and who is a
15participant because of employment other than part-time service as an elected official
16and who is also a participating employe because of part-time service as an elected
17official may, after termination of all covered employment other than service as a
18part-time elected official, waive further participation under the fund for his or her
19current, and any future, part-time service as an elected official. Any election under
20this paragraph is irrevocable and is effective beginning the day after the date of
21election. Notwithstanding par. (a), any participant initially employed before
22January 1, 1990, who elects under this paragraph may receive a retirement annuity
23for all service under the fund credited to the participant to the date he or she elects.
24Notwithstanding par. (a), any participant initially employed on or after January 1,

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11990, who elects under this paragraph may receive a retirement annuity for all
2service under the fund credited to the participant to the date he or she elects only if
3the participant has creditable service in at least 5 calendar years. The date a
4participant elects under this paragraph is deemed to be the date of separation from
5the last participating employer by which that participant was employed.".

SB449-SA5,3,179 40.25 (3) Upon administrative approval of payment of an amount under either
10sub. (1), or (2) or (2m), the participant's account shall be closed and there shall be no
11further right, interest or claim on the part of the former participant to any benefit
12from the Wisconsin retirement system except as provided by subs. (5) and (6). Any
13former participant who is subsequently employed by any participating employer
14shall be treated as a new participating employe for all purposes of this chapter. New
15accumulations of contributions and credits and the computation of any future
16benefits shall bear no relationship to any accumulations and credits paid as single
17sums under sub. (1), or (2) or (2m).".

SB449-SA5,3,2120 40.25 (6) (b) 1. Forfeited because of payment of an amount under sub. (2) or
21(2m); or".

SB449-SA5,4,5

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140.63 (1) (intro.) Notwithstanding the requirement for creditable service in at
2least 5 calendar years for retirement annuities under s. 40.23 (1) (a) and (am), any
3Any participating employe is entitled to a disability annuity from the Wisconsin
4retirement system, beginning on the date determined under sub. (8) if, prior to
5attaining his or her normal retirement date, all of the following apply:".

SB449-SA5,4,11 7"(4p) The treatment of sections 40.02 (17) (j) and (45), 40.04 (4) (a) 2m., 40.22
8(3m), 40.23 (1) (a) 3. and (am) 2., 40.25 (2m), (3) and (6) (b) 1. and 40.63 (1) (intro.)
9of the statutes first applies to participants in the Wisconsin retirement system who
10terminate covered employment under the Wisconsin retirement system on the
11effective date of this subsection.".