Wisconsin § 40.73 - Death benefits.

§ 40.73. Death benefits.

40.73(1) (1) The amount of the Wisconsin retirement system death benefit shall be: 40.73(1)(a) (a) Upon the death of a participant, other than an annuitant or a participating employee, the sum of the additional and employee required contribution accumulations credited to the participant’s account on the beneficiary annuity effective date or, in the case of a lump sum payment, the first day of the month in which the death benefit is approved. In addition: 40.73(1)(a)1. 1. For teacher participants who were members of the state teachers retirement system or the Milwaukee teachers retirement fund on June 30, 1966, the amount shall be increased by the employer contribution accumulation credited to the participant’s account on or prior to June 30, 1973, plus interest at the effective rate subsequently credited to the accumulations. 40.73(1)(a)2. 2. For participants who were participants of the Wisconsin retirement fund on or prior to December 31, 1965, the amount shall be increased by the employer contribution accumulation credited to the participant’s account on December 31, 1965, plus interest at the effective rate subsequently credited to the accumulations. 40.73(1)(am) (am) Upon the death of a participating employee, except as otherwise provided by par. (c) , the sum of all of the following accumulations, including any interest credited to the accumulations, that are credited to the participant’s account on the beneficiary annuity effective date or, in the case of a lump sum payment, the first day of the month in which the death benefit is approved: 40.73(1)(am)1. 1. Additional contributions. 40.73(1)(am)2. 2. Accumulated contributions to purchase other governmental service under s. 40.25 (7) , 2001 stats., or s. 40.285 (2) (b) . 40.73(1)(am)3. 3. Twice the employee required contributions, after first subtracting the accumulations under subd. 2. , including interest on the accumulations. Except, for a county jailer described in s. 40.02 (48) (am) 23. , the amount equal to the employee required contributions and the employer required contributions paid for a county jailer under s. 40.05 (2) (a) , after first subtracting the accumulations under subd. 2. , including interest on the accumulations. The amount applicable for a county jailer applies only to a county jailer who becomes a protective occupation participant on or after January 1, 2024, and who is one of the following: 40.73(1)(am)3.a. a. Employed in a county that did not classify county jailers as protective occupation participants on January 1, 2024. 40.73(1)(am)3.b. b. Employed in a county that classified county jailers as protective occupation participants on January 1, 2024, and the county subsequently determines to not classify county jailers as protective occupation participants and instead classify county jailers as general participating employees. 40.73(1)(b) (b) Upon the death of an annuitant, in addition to any amounts payable by virtue of the annuity option elected by an annuitant, the amount determined under par. (a) for contributions made under s. 40.05 (1) subsequent to the effective date of the annuity, or additional contributions not applied to provide an annuity, provided the amounts have not been previously paid out as a lump sum under s.