summary
Introduced
In Committee
Crossed Over
Passed
Dead
02/18/2022
02/18/2022
Introduced Session
2022 General Session
Bill Summary
AN ACT relating to public employee retirement plans; providing for a single, additional, noncumulative benefit payment under the Wyoming Retirement Act, the Wyoming State Highway Patrol, Game and Fish Warden and Criminal Investigator Retirement Act and the Firemen's Pension Account Reform Act of 1981; specifying legislative intent and making legislative findings; requiring a study of plans administered by the Wyoming retirement system board or director; requiring reports and certifications; providing an appropriation; and providing for an effective date.
AI Summary
This bill provides for a single, additional, non-cumulative benefit payment to eligible retirees under various Wyoming public employee retirement plans, such as the Wyoming Retirement Act and the Firemen's Pension Account Reform Act of 1981. The payment amount will be calculated based on the years the retiree's benefit has been in effect, up to a maximum of 3% of the existing annual benefit. The bill also requires the Wyoming Retirement System board to review the findings underlying previous legislation on public employee retirement plans, assess the effects of inflation, and recommend potential modifications to allow for future benefit adjustments while maintaining the plans' actuarial soundness. The bill appropriates $5 million from the general fund to the board to make the one-time payments to eligible retirees.
Sponsors (5)
Steve Harshman (R)*,
Bill Henderson (R)*,
Jared Olsen (R)*,
Andy Schwartz (D)*,
Patrick Sweeney (R)*,
Last Action
Did not Consider for Introduction (on 02/18/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.wyoleg.gov/Legislation/2022/HB0095 |
| BillText | https://www.wyoleg.gov/2022/Introduced/HB0095.pdf |
| Fiscal Note | https://www.wyoleg.gov/2022/Fiscal/HB0095.pdf |
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