Title 9, Title 9 — Administration Of The Government

Construction of article; limitation of liability of state; termination of system. (a) Nothing in this article shall be construed to: (i) Acknowledge any past, present or future liability of or obligate the state of Wyoming for contribution except the employer's contributions prov…

False statements and records prohibited; right to modify article. (a) Any person who knowingly makes a false statement or falsifies or permits to be falsified any record used in the administration of this article, in an attempt to defraud the board, is guilty of a misdemeanor. (b…

Application for benefits; benefit payment effective dates; minimum distribution rules. (a) A member shall submit a written application for benefits to the system before benefits shall begin. The written application for benefits shall be on forms adopted by the board. (b) Benefits…

Firefighter members; contributions; benefit eligibility; service and disability retirement benefits; termination of benefits upon failure to make timely contribution payments. (a) In addition to contributions paid under W.S. 9-3-412 and 9-3-413, each firefighter member shall pay …

Law enforcement officers; contributions; benefit eligibility; service and disability benefits; death benefits; benefit options. (a) Each law enforcement officer shall pay into the account eight and six-tenths percent (8.6%) of his salary through June 30, 2024, nine and one-half p…

Short title. This act may be cited as the Uniform Management of Public Employee Retirement Systems (MPERS) Act.

Definitions. (a) As used in this act: (i) "Administrator" means the director of the Wyoming retirement system; (ii) "Agent group of programs" means a group of retirement programs which shares administrative and investment functions but maintains a separate account for each retire…

Scope. (a) This act applies to all retirement programs and retirement systems, except: (i) A retirement program that is unfunded and is maintained by a public employer solely for the purpose of providing deferred compensation for a select group of management employees or employee…

Establishment of trust. (a) Except as otherwise provided in subsection (b) of this section, all assets of a retirement system are held in trust for the exclusive benefit of the members, retirees and beneficiaries of the system, including reasonable administrative expenses. The tr…

Powers of trustee. (a) In addition to other powers conferred by the governing law, a trustee has exclusive authority, consistent with the trustee's duties under this act, to: (i) Establish an administrative budget sufficient, subject to legislative approval, to perform the truste…

Delegation of functions. (a) A trustee or administrator may delegate functions that a prudent trustee or administrator acting in a like capacity and familiar with those matters could properly delegate under the circumstances. (b) The trustee or administrator shall exercise reason…

General duties of trustee and fiduciary. (a) A trustee or other fiduciary shall discharge duties with respect to a retirement system: (i) Solely in the interest of the participants and beneficiaries; (ii) For the exclusive purpose of providing benefits to participants and benefic…

Duties of trustee in investing and managing assets of retirement system. (a) In investing and managing assets of a retirement system pursuant to W.S. 9-3-439 and subject to W.S. 9-4-722, a trustee with authority to invest and manage assets: (i) Shall consider among other circumst…

Special application of duties. (a) A trustee may return a contribution to a public employer or employee, or make alternative arrangements for reimbursement, if the trustee determines the contribution was made because of a mistake of fact or law. (b) Upon termination of a retireme…

Reviewing compliance. (a) Compliance by a trustee or other fiduciary with W.S. 9-3-438 through 9-3-440 shall be determined in light of the facts and circumstances existing at the time of the trustee or fiduciary's decision or action and not by hindsight. (b) A trustee's investmen…

Liability of trustee or other fiduciary. (a) Except as provided in subsection (e) of this section, a trustee or other fiduciary who breaches a duty imposed by this act is personally liable to a retirement system for any losses resulting from the breach and any profits made by the…

Open meetings and records. (a) A multimember body having authority to invest or manage assets of a retirement system may deliberate about, or make tentative or final decisions on, investments or other financial matters in executive session if disclosure of the deliberations or de…

Disclosure to public. (a) An administrator of a retirement system shall prepare and disseminate: (i) A summary plan description of each retirement program; (ii) A summary description of any material modification in the terms of the program and any material change in the informati…

Disclosure to participants and beneficiaries. (a) An administrator shall furnish to each participant and to each beneficiary who is receiving benefits under a retirement program: (i) A copy of the most recent summary plan description, along with any summary descriptions of modifi…

Reports to agency. (a) An administrator shall file with the retirement system a copy of: (i) The governing law of the retirement program and system within four (4) months after the system becomes subject to this act and an updated copy at least once every year thereafter; (ii) Th…

Summary plan description. (a) A summary plan description and a summary description of modifications or changes under W.S. 9-3-445(a)(ii) shall be written in a manner calculated to be understood by the average participant and be accurate and sufficiently comprehensive reasonably t…

Annual disclosure of financial and actuarial status. (a) An annual disclosure of financial and actuarial status shall contain: (i) The name of the retirement system and identification of each retirement program and, when programs are in an appropriate grouping of programs, of eac…

Annual report. (a) An annual report shall contain: (i) The name and business address of each trustee and each member of a trustee board; (ii) The financial statements, but not the notes, required by W.S. 9-3-449(a)(viii); (iii) For defined benefit plans, the actuarial schedules, …

Enforcement. (a) An action may be maintained by: (i) A public employer, participant, beneficiary or fiduciary for any one (1) or more of the following purposes: (A) To enjoin an act, practice or omission that violates this act; (B) For appropriate equitable relief for a breach of…

Alienation of benefits. Benefits of a retirement program may not be assigned or alienated and shall be exempt from claims of creditors, except as otherwise provided by state law.

Public employee retirement plans; funding; legislative findings; required determinations for benefit increases. (a) The legislature finds: (i) Wyoming public employee retirement plans' actuarial funding levels are higher than many public employee retirement plans in other states,…

Required determinations for recommended benefit increases. (a) In accordance with the findings specified in W.S. 9-3-453: (i) All plans shall be managed to maintain their actuarial funded ratio at or above one hundred percent (100%) throughout the life of the plan. The actual fun…

Definitions. (a) As used in this article: (i) Repealed By Laws 2001, Ch. 64, § 2. (ii) "Board" means the Wyoming retirement board established under W.S. 9-3-404(a); (iii) "Employee" means any person including any elected official employed by and receiving compensation from the st…

Establishment of program by state; administration by Wyoming retirement board; establishment of separate deferred compensation by political subdivisions; investment permitted; limitation on amount deferred; taxability. (a) The board shall establish and administer the program for …

Investment of deferred compensation; limitation on approved investment plans; enrolling and servicing fees; holding of funds; limited liability of state and political subdivision. (a) The board may approve investment of deferred compensation in insurance and annuity contracts or …

Duties of Wyoming retirement board. (a) The board shall: (i) Invest compensation deferred pursuant to this article; (ii) Select providers and review and evaluate provider contracts and provider investment plans; (iii) Repealed by Laws 2015, ch. 10, § 2. (iv) Establish policy gove…

Special account for administrative expenses; deposits and expenditures; account balance specified; audit required. (a) The board shall deposit all fees paid by providers under the program for enrollment and servicing of accounts of program participants and all amounts deducted fr…

Amount of state's contribution; qualified annuity plan contributions authorized; estimates submitted to state budget officer. (a) The state shall contribute monthly to the program the amount established and appropriated by the legislature for each employee and official contributi…

Enrollment of state employees in the plan; notice to employee; contribution rate; investment of funds by retirement system; withdrawal period; plan document to provide for automatic enrollment. (a) On and after July 1, 2015, a person who begins employment, or returns to employmen…

Short title. This act is known and may be cited as "The Wyoming State Highway Patrol, Game and Fish Warden and Criminal Investigator Retirement Act".

Definitions. (a) As used in this article: (i) "Accumulated contribution" means the sum of all the amounts deducted from the compensation of a member subsequent to the effective date of the Wyoming Retirement Act and credited to his individual account; (ii) "Board" or "retirement …

Administration. (a) There is created the retirement program which is for the benefit of the employees defined in W.S. 9-3-602(a)(v). (b) The administration and responsibility for the operation of the retirement program is under the direction and control of the board. All matters …

Employee contributions. (a) Every employee covered by this article shall pay into the fund fourteen and fifty-six hundredths percent (14.56%) of his salary from July 1, 2014 through June 30, 2024 and thereafter eighteen and ninety-two hundredths percent (18.92%) of his salary. (b…

Employer contributions. Each employer subject to this article shall pay into the fund a contribution equal to twelve and ninety-six hundredths percent (12.96%) until June 30, 2014, and for the period from July 1, 2014 through June 30, 2015, thirteen and eighty-six hundredths perc…

Transfer of funds to retirement program. All employee and matching contributions made to the Wyoming retirement system or other retirement system on behalf of an employee now covered under the retirement program and the accrued interest thereon shall be transferred to the retirem…

Age of retirement. (a) Any employee with six (6) or more years of service to his credit is eligible to receive a retirement allowance under this article when he attains age fifty (50). (b) Effective July 1, 1998, any employee retiring after July 1, 1998, with twenty-five (25) or …

Retirement allowance. Any employee who has left the service, and who has not withdrawn his accumulated contributions, is eligible to receive a retirement allowance computed according to the terms of this article at the age specified in W.S. 9-3-607.

Determination of years of service by board; credit for time spent in military service. (a) The board shall determine the total years of service creditable to each employee in determining eligibility for retirement under this article. It may require employees to file detailed stat…

Amount of benefit. (a) The service retirement allowance payable to an employee under this article at age fifty (50) shall be equal to two and one-half percent (2.5%) of the employee's highest average salary for each year of credited service in the program, provided the retirement…

Eligibility and amount of disability allowance. (a) Any employee who suffers a partial or total disability resulting from an individual and specific act, the type of which would normally occur only while employed as an employee, is eligible for a duty-connected disability allowan…

Payment of disability allowance. (a) Disability allowance payments shall be made to an employee for each month beginning with the month in which he becomes eligible to receive such allowance and ending with the month in which he ceases to be eligible or dies. (b) Any employee rec…