Employee retirement system liability financing in populous counties; additional powers
Wis. Stat. § 59.87
in effect(1) Definitions. In this section:
(a) “Board” means the county board of supervisors in any county.
(b) “County” means any county having a population of 750,000 or more.
(c) “Pension funding plan” means a strategic and financial plan related to the payment of all or part of a county’s unfunded prior service liability with respect to an employee retirement system.
(d) “Trust” means a common law trust organized under the laws of this state, by the county, as settlor, pursuant to a formal, written, declaration of trust.
(2) Special financing entities, funds, and accounts.
(a) To facilitate a pension funding plan and in furtherance thereof, a board may create one or more of the following:
1. A trust.
2. A nonstock corporation under ch. 181.
3. A limited liability company under ch. 183.
4. A special fund or account of the county.
(b) An entity described under par. (a) has all of the powers provided to it under applicable law and the documents pursuant to which it is created and established. The powers shall be construed broadly in favor of effectuating the purposes for which the entity is created. A county may appropriate funds to such entities and to such funds and accounts, under terms and conditions established by the board, consistent with the purposes for which they are created and established.
(3) Stabilization funds.
(a) To facilitate a pension funding plan a board may establish a stabilization fund. Any such fund may be created as a trust, a special fund or account of the county established by a separate resolution or ordinance, or a fund or account created under an authorizing resolution or trust indenture in connection with the authorization and issuance of appropriation bonds under s. 59.85 or general obligation promissory notes under s. 67.12 (12). A county may appropriate funds for deposit to a stabilization fund established under this subsection.
(b) Moneys in a stabilization fund established under this subsection may be used, subject to annual appropriation by the board, solely to pay principal or interest on appropriation bonds issued under s. 59.85 and general obligation promissory notes under s. 67.12 (12) issued in connection with a pension funding plan, for the redemption or repurchase of such appropriation bonds or general obligation promissory notes, to make payments under any agreement or ancillary arrangement entered into under s. 59.86 with respect to such appropriation bonds or general obligation promissory notes, or to pay annual pension costs other than normal costs. Moneys on deposit in a stabilization fund may not be subject to any claims, demands, or actions by, or transfers or assignments to, any creditor of the county, any beneficiary of the county’s employee retirement system, or any other person, on terms other than as may be established in the resolution or ordinance creating the stabilization fund. Moneys on deposit in a stabilization fund established under this subsection may be invested and reinvested in the manner directed by the board or pursuant to delegation by the board as provided under s. 66.0603 (5).
Source: WI Statutes (Official Site)URL: https://docs.legis.wisconsin.gov/document/statutes/59.87Fetched: 10/7/2026