Wisconsin Administrative Code
Department of Employee Trust Funds
Chapter ETF 20 - Wisconsin Retirement System
Section ETF 20.25 - Core and variable annuity changes

(a) Except as otherwise provided in par. (b), a core annuity dividend, as recommended by the actuary and approved by the chair of the employee trust funds board and the department's secretary, shall be distributed based on each December 31 valuation as specified in s. 40.27(2), Stats. The dividend shall be effective on the April 1 following the valuation date and shall apply to core annuities effective on or prior to the date of the valuation. As authorized under s. 40.27(2) (b), Stats., different percentages shall be determined for annuities effective for less than a full year on the valuation date. The percentages shall be determined by multiplying the number of full months the annuity was in force times the percentage change applicable to annuities effective for the full year, dividing the result by 12 and rounding the answer to the nearest tenth of a percent. No increase shall be applied to any annuity for which the resulting increase would be less than one tenth of a percent.

(b) The total amount distributed to the annuity reserve under, section shall be distributed effective April 1, 2000, in the form of a percentage increase. The percentage shall be recommended by the actuary separate from the distribution of any surplus created by the annual distribution under s. 40.04(3) (a), Stats., or otherwise. The percentage under this paragraph shall be the same for all affected annuities, including those with effective dates after December 31, 1998 and before January 1, 2000.