MADISON, Wis. (AP) — It will be harder for Wisconsin public workers to be covered by the state retirement system and take longer to get vested to receive pension benefits under action by the Legislature's budget committee.
The Joint Finance Committee voted Tuesday to require newly hired public workers to work five years before they are fully vested in a Wisconsin Retirement System annuity. Under the change, they would be eligible for 20 percent of the employer match for each year they work, until they are fully vested after five years.
Under current law, there is no minimum period before an employee is vested.
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