KLS Keeping Law Simple Legislation in plain English

Straight-ahead summaries built from the official bill text. We keep the source links front and center and leave the decision up to you.

Back to Wyoming

SF0009 • 2008

State retirement-board immunity.

AN ACT relating to the Uniform Management of Public Employee Retirement Systems Act; clarifying personal liability of board members and other retirement fiduciaries; clarifying retirement and volunteer firemen's pension board member liability accordingly; specifying intent; and providing for an effective date.

Labor
Enacted

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

Sponsor
Mgt Audit
Last action
2008-03-12
Official status
enrolled
Effective date
3/12/2008

Plain English Breakdown

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

Amendments

These notes stay tied to the official amendment files and metadata from the legislature.

SF0009H2001

2nd reading • BROWN

Adopted

Plain English: Adopted 2nd reading by BROWN

  • This amendment summary is using official source text because generated interpretation was skipped for this run.
  • The official amendment text was available, but an easy plain-English summary could not be produced automatically during the last sync.
SF0009H3001

3rd reading • BROWN

Adopted

Plain English: Adopted 3rd reading by BROWN

  • This amendment summary is using official source text because generated interpretation was skipped for this run.
  • The official amendment text was available, but an easy plain-English summary could not be produced automatically during the last sync.
SF0009H3002

3rd reading • BROWN

Withdrawn

Plain English: Withdrawn 3rd reading by BROWN

  • This amendment summary is using official source text because generated interpretation was skipped for this run.
  • The official amendment text was available, but an easy plain-English summary could not be produced automatically during the last sync.
SF0009HW001

Committee of the Whole • GINGERY

Failed

Plain English: Failed Committee of the Whole by GINGERY

  • This amendment summary is using official source text because generated interpretation was skipped for this run.
  • The official amendment text was available, but an easy plain-English summary could not be produced automatically during the last sync.
SF0009SS001

Standing Committee • CASE

Adopted

Plain English: Adopted Standing Committee by CASE

  • This amendment summary is using official source text because generated interpretation was skipped for this run.
  • The official amendment text was available, but an easy plain-English summary could not be produced automatically during the last sync.

Bill History

  1. 2008-03-12 LSO

    Assigned Chapter Number - 79

  2. 2008-03-12 Governor

    Governor Signed SEA0059

  3. 2008-03-07 House

    H Speaker Signed SEA No. 0059

  4. 2008-03-07 Senate

    S President Signed SEA No. 0059

  5. 2008-03-07 LSO

    Assigned Number SEA0059

  6. 2008-03-07 House

    H Adopted SF0009JC02

  7. 2008-03-07 Senate

    S Adopted SF0009JC02

  8. 2008-03-05 House

    H Appointed JCC02 Members

  9. 2008-03-05 Senate

    S Appointed JCC02 Members

  10. 2008-02-29 Senate

    S Appointed JCC01 Members

  11. 2008-02-28 House

    H Appointed JCC01 Members

  12. 2008-02-27 Senate

    S Did Not Concur

  13. 2008-02-27 House

    H Passed 3rd Reading

  14. 2008-02-27 House

    Amendment Adopted

  15. 2008-02-26 House

    H Passed 2nd Reading

  16. 2008-02-26 House

    Amendment Adopted

  17. 2008-02-26 House

    H Amendments Adopted

  18. 2008-02-25 House

    H Passed CoW

  19. 2008-02-25 House

    Amendment Failed

  20. 2008-02-21 House

    H Placed on General File

  21. 2008-02-21 House

    H01 Recommended Do Pass

  22. 2008-02-19 House

    H Introduced and Referred to H01

  23. 2008-02-18 House

    H Received for Introduction

  24. 2008-02-15 Senate

    S Passed 3rd Reading

  25. 2008-02-14 Senate

    S Passed 2nd Reading

  26. 2008-02-13 Senate

    S Passed CoW

  27. 2008-02-13 Senate

    Amendment Adopted

  28. 2008-02-13 Senate

    S Amendments Adopted

  29. 2008-02-12 Senate

    S Placed on General File

  30. 2008-02-12 Senate

    S07 Recommended Amend and Do Pass

  31. 2008-02-11 Senate

    S Introduced and Referred to S07

  32. 2008-02-11 Senate

    S Received for Introduction

  33. 2007-12-05 LSO

    Bill Number Assigned

Official Summary Text

2008 General Session Summary for SF0009

Bill No.:
SF0009
Drafter:

DRN

LSO No.:
08LSO-0184
Effective Date:

Enrolled Act No.:

Chapter No.:

Prime Sponsor:
Management
Audit Committee

Catch Title:
State
retirement-board immunity.

Subject:
Clarifying
personal liability of board members of public employee retirement systems.

Summary/Major Elements:

Provides that individual board members of any public employee retirement
system are liable under the Uniform Management of Public Employee Retirement
Systems Act only for willful misconduct, intentional torts or illegal acts.

Current Bill Text

Read the full stored bill text 
WORKING DRAFT

ORIGINAL SENATE

FILE

NO.
0009

ENROLLED ACT NO. 59, SENATE

FIFTY-NINTH LEGISLATURE OF THE STATE OF
WYOMING
2008 BUDGET SESSION

AN ACT relating to
the Uniform Management of Public Employee Retirement Systems Act; c
larifying
personal liability of board members
of any public employer retirement system;
specifying intent;
and providing for an effective date.

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

Section 1.

W.S. 9
‑
3
‑
443(a) and
by creating a new subsection (e) is
amended to read:

9
‑
3
‑
443.

Liability of trustee or other fiduciary.

(a)

Except as provided in subsection (e) of this section, a
trustee

or other fiduciary who

breaches a duty imposed by this act

is personally liable to a retirement system for any losses resulting from the breach and any profits made by the trustee or other fiduciary through use of assets of the system by the trustee or other fiduciary. The trustee or other fiduciary is subject to other equitable remedies as the court considers appropriate, including removal.

(e)

Notwithstanding subsection (a) of this section and as provided in the Wyoming Governmental Claims Act, individual board members of a retirement system are immune from liability while acting within the scope of administering and operating a retirement system and are not personally liable for breaches of fiduciary duties in carrying out system administration and operation except in cases of willful misconduct, intentional torts or illegal acts.

Section 2.

The intent of this act is to clarify the personal liability of
any
public employee retirement system
board member under the Uniform Management of Public Employee Retirement Systems Act
in the administration and operation of
respective retirement programs
only.
Nothing in this act shall otherwise change or modify the intent and purpose of the Uniform Management of Public Employees Retirement
Systems
Act as provided
in
W.S. 9
‑
3
‑
433 through 9
‑
3
‑
452.

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 Senate.

Chief Clerk

1