Law enforcement retirement-prior service credit.

WORKING DRAFT
2006
STATE OF
WYOMING
06LSO-0334

HOUSE BILL
NO.
HB0090

Law enforcement retirement-prior service credit.

Sponsored by:
Representative(s) White, Gingery, Illoway, Pedersen, Semlek and
Warren
and Senator(s) Ross

A BILL

for

AN ACT relating to law enforcement retirement; authorizing law enforcement officers to purchase service credits as specified; and providing for an effective date.

Be It Enacted by the Legislature of the State of
Wyoming
:

Section 1.

W.S. 9
‑
3
‑
432 by creating a new subsection (n) is amended to read:

9
‑
3
‑
432.

Law enforcement officers; contributions; benefit eligibility; service and disability benefits; death benefits; benefit options.

(
n
)

Any law enforcement officer may elect to purchase up to five (5) years of service credit for full-time employment in law enforcement performed for another state or political subdivision of another state, the federal government or in
Wyoming
for a public law enforcement agency. The purchase of prior service credits ma
y
not be made by the officer if he has a vested retirement benefit from the prior full-time employment in law enforcement. Any member electing to purchase service credit shall pay into the account a single lump-sum amount equal to the actuarial equivalent of the benefits to be derived from the service credit computed on the basis of actuarial assumptions approved by the board and the individual's attained age and average salary for the highest three (3) continuous years of covered service.

Section 2.

This act is effective immediately upon co
m
pletion of all acts necessary for a bill to become law as provided by Article 4, Section 8 of the Wyoming Constit
u
tion.

(END)

1
HB0090