Coverage effective September 20. This insurance is a mandatory condition of employment. Income Continuation Insurance Employee pays full cost of coverage in months 7-12 of employment. After six months employment and participating in the Wisconsin Retirement System. Employees choose waiting period desired.
Premium depends on waiting period and salary level.
There is no current mandatory employee contribution. Employee is vested immediately. Contributions begin upon employment and are mandatory for employees who qualify. Provides retirement annuities based on age at retirement, years of service and average salary for three highest years. Actuarially reduced benefits can begin at age 55.