This amendment deletes a prior lien amendment and adds a new Section 328 providing a one-time retirement benefit payment of 2.7% to eligible retirees from Wyoming retirement plans, funded with $21,685,764 from the general fund.
- Deletes the Lien third reading amendment (HB0001H3084) in its entirety. (Page 1, line 1-2)
- Adds 'providing a one-time retirement payment;' to the bill's purpose statement. (Page 1, line 4-5)
- Inserts new Section 328 creating a one-time retirement payment program on July 1, 2026 for eligible retirement plan members and survivors who began receiving benefits prior to July 1, 2024. Eligible persons receive a payment equal to 2.7% of their existing annual benefit. (Page 141, after line 19 through Page 143, line 7)Agency: Wyoming Retirement System · $21,685,764.00 General Fund
- Appropriates $21,685,764 from the general fund to the Wyoming Retirement System board for making the one-time payments, with funds allocated proportionally to each retirement plan and any insufficient funds resulting in proportionate reductions. Appropriation expires June 30, 2028 and is not to be included in standard budget. (Page 142, line 29-7)Agency: Wyoming Retirement System · $21,685,764.00 General Fund
- Authorizes the Wyoming Retirement System to draw additional funds from individual retirement plan accounts if the appropriated amount is insufficient, limited to amounts necessary to pay eligible persons from the specific plan from which funds are drawn. (Page 142, line 9-15)
- Defines 'retirement plan' to include all Wyoming Retirement Board-administered plans including volunteer firefighter, EMT and search and rescue pension plans, but excludes the paid firemen plan A. (Page 142, line 17-23)
AI-generated summary · Verify against the amendment text (PDF) · Notice a problem? Let us know
