Firemen's Pension Plan Benefits
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Bill Summary - 22LSO-0125 Bill No.: SF0039 Effective: Immediately LSO No.: 22LSO-0125 Enrolled Act No.: SEA No. 0006 Chapter No.: 8 Prime Sponsor: Joint Appropriations Committee Catch Title: Firemen's pension plan benefits. Subject: Fire A pension plan revisions and funding. Summary/Major Elements: This act amends the Fire A pension plan by removing future cost-of-living increases for members or their dependents and specifies the qualifications for a surviving spouse for purposes of receiving pension benefits. This act creates the Fire A legislative reserve account and dedicates funds to the account. Funds in the reserve account shall only be expended if funds in the firemen's pension account are insufficient to provide benefits. This act requires employers to contribute funds to the Fire A legislative reserve account and provides a loan to employers for purposes of making the required contributions. The act provides for repayment of the loan provided to employers. This act appropriates state funds for a state contribution to the Fire A legislative reserve account. The above summary is not an official publication of the Wyoming Legislature and is not an official statement of legislative intent. While the Legislative Service Office endeavored to provide accurate information in this summary, it should not be relied upon as a comprehensive abstract of the bill.
Public statements
Last checked Aug 8, 11:02 AM
Why they voted this way
The lawmaker argues that the current bill is necessary because it allows time to correct funding issues in one plan while accelerating healing for another through immediate contributions.
Why they voted this way
The lawmaker states they have a personal financial interest in the bill because their retirement benefits are affected, and therefore chooses to refrain from voting.
R · S20
Why they voted this way
The lawmaker opposes the amendment because they believe accepting full additional financial liability for volunteer fire departments is not a solution, even though they empathize with the situation.
Why they voted this way
The speaker argues that the bill is necessary to fix issues with retirement benefits before participants lose their pensions in a few years.
If a lawmaker is not listed, we couldn't find a published reason.
Wyoming roll calls
9 roll calls
Official activity
Changes
4 stored
The amendment changes the definition of 'surviving spouse' in the pension plan for firefighters by excluding spouses who married a firefighter or retired firefighter on or after April 1, 2022.
The amendment modifies the distribution of fire insurance premium taxes to a specific account and adjusts an amount in the bill.
The amendment modifies how fire insurance premium taxes are distributed between a volunteer firefighter pension account and the Fire A legislative reserve account.
The amendment changes how leftover money in a firemen pension fund will be distributed after all obligations are met.