HB0126 • 2006

State retirement amendments.

AN ACT relating to public retirement; providing for the furnishing of reports; providing for the approval of the administrative budget; repealing the prohibition of investing in mortgage backed securities; and providing for an effective date.

Budget

Enacted

This bill passed the Legislature and reached final enactment based on the latest official action.

Sponsor: Representative Pedersen
Last action: 2006-03-15
Official status: enrolled
Effective date: 3/15/2006

Plain English Breakdown

The plain English breakdown is still being put together. The official documents below are already here.

Bill History

2006-03-15 LSO
Assigned Chapter Number - 51
2006-03-15 Governor
Governor Signed HEA No. 0035
2006-03-10 Senate
S President Signed HEA No. 0035
2006-03-10 House
H Speaker Signed HEA No. 0035
2006-03-09 LSO
Assigned Number HEA0035
2006-03-09 Senate
S Passed 3rd Reading
2006-03-08 Senate
S Passed 2nd Reading
2006-03-07 Senate
S Passed CoW
2006-03-01 Senate
S Placed on General File
2006-03-01 Senate
S02 Recommended Do Pass
2006-02-28 Senate
S Introduced and Referred to S02
2006-02-24 Senate
S Received for Introduction
2006-02-24 House
H Passed 3rd Reading
2006-02-23 House
H Passed 2nd Reading
2006-02-22 House
H Passed CoW
2006-02-22 House
H Placed on General File
2006-02-22 House
H02 Recommended Do Pass
2006-02-16 House
H Introduced and Referred to H02
2006-02-13 House
H Received for Introduction
2006-02-10 LSO
Bill Number Assigned

Official Summary Text

HB0126 Bill Summary

Bill
No.:
HB0126

Drafter:

MQ

LSO
No.:

06LSO-0358

Effective Date:

Enrolled
Act No.:

HEA0035

Chapter
No.:

51

Prime
Sponsor:

Representative Pedersen

Catch
Title:

State retirement amendments.

Subject:

Provides
amendments to the public retirement act.

Summary/Major
Elements:

Allows the Wyoming
retirement system to provide financial reports electronically.

Provides
legislative oversight over the administrative budget of the retirement system.

Repeals the
prohibition against investing retirement funds in

mortgage backed securities.

Current Bill Text

Read the full stored bill text

WORKING DRAFT

ORIGINAL HOUSE

BILL

NO.
0126

ENROLLED ACT NO. 35, HOUSE OF REPRESENTATIVES

FIFTY-EIGHTH LEGISLATURE OF THE STATE OF
WYOMING
2006 BUDGET SESSION

AN ACT relating to public retirement; providing for the furnishing of reports; providing for the approval of the administrative budget; repealing the prohibition of investing in mortgage backed securities; and providing for an effective date.

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

Section 1.
W.S. 9
‑
3
‑
434(a)(xii)
(A), (B) and by creating a new subparagraph (C)
and 9
‑
3
‑
437(a)(i) are amended to read:

9
‑
3
‑
434.

Definitions. [Effective July 1, 2006.]

(a)

As used in this act:

(xii)

"Furnish" means:

(A)

To deliver personally, to mail to the last known place of employment or home address of the intended recipient, or, if reasonable grounds exist to believe that the intended recipient would receive it in ordinary course, to transmit by any other usual means of communication;

or

(B)

To provide to the intended recipient's public employer if reasonable grounds exist to believe that the employer will make a good faith effort to deliver personally, by mail, or by other usual means of communication
;
.

or

(C)

To make available in an electronic format to be sent electronically to the intended recipient or to make available in an electronic format at a designated website.

9
‑
3
‑
437.

Powers of trustee. [Effective July 1, 2006.]

(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 trustee's duties and, as appropriate and reasonable, draw upon assets of the retirement system to fund the budget;

Section 2.
W.S. 9
‑
3
‑
408(f) is repealed.

Section 3.
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)

Speaker of the House

President of the Senate

Governor

TIME APPROVED: _________

DATE APPROVED: _________

I hereby certify that this act originated in the House.

Chief Clerk

1