Section 50.60. Plan accounting.

Latest version.

(1) LTDI account. A separate account for the LTDI program shall be maintained within the public employee trust fund.

(2) Insurance premiums.

(a) The employee trust funds board shall pay a monthly premium to the LTDI program account for the LTDI coverage provided to participating employees under this subchapter.

(b) The initial amount of the required monthly premium shall be as determined and certified by the actuary. The actuary shall determine and certify future required premiums annually at the same time contribution rates are determined under s. 40.05 , Stats., for the Wisconsin retirement system, based on the information available at the time the determination is made and on the assumptions the actuary recommends and the group insurance board approves.

History: Emerg. cr. eff. 10-15-92; cr. Register, May, 1993, No. 449 , eff. 6-1-93.

                    
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