HB0001H3084.02

This amendment adds a one-time retirement payment for eligible Wyoming retirement system beneficiaries on July 1, 2026, funded by an $8.78 million general fund appropriation.

• Updates the bill's purpose statement to include 'providing a one-time retirement payment'. (Page 1, lines 1-2)
• Creates Section 329 establishing a one-time retirement payment equal to 1% of annual benefits for eligible retirees who began receiving benefits before July 1, 2024. The payment is made on July 1, 2026 and is not ongoing or cumulative. (Page 141-142, new Section 329(a))Agency: Wyoming Retirement System · $8,780,405.00 General Fund
• Appropriates $8,780,405 from the general fund to the Wyoming Retirement System for the one-time payment, to be allocated to each retirement plan proportionally. Any unexpended funds revert on June 30, 2028. Funds are excluded from the board's standard budget for the next biennium. (Page 142, new Section 329(b))Agency: Wyoming Retirement System · $8,780,405.00 General Fund
• Allows the Wyoming Retirement System to draw additional funds from individual retirement plans if the appropriation is insufficient, but only for beneficiaries of the plan from which funds are drawn. (Page 142, new Section 329(c))
• Defines 'retirement plan' to include all plans administered by the Wyoming Retirement Board except the paid firemen plan A, including the volunteer firefighter, EMT and search and rescue pension plan. (Page 142, new Section 329(d))

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