SF0092 • 2020

Volunteer pension account-funding.

AN ACT relating to pension accounts; increasing contributions to the account; increasing insurance premium taxes which may be deposited to the volunteer firefighter, EMT and search and rescue pension account as specified; and providing for an effective date.

Budget Healthcare Labor Taxes

Enacted

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

Sponsor: Appropriations
Last action: 2020-03-13
Official status: enrolled
Effective date: 7/1/2020

Plain English Breakdown

The official source material does not provide specific details about how the exact amount needed for full funding is calculated, only that it involves achieving a certain funding status.

Volunteer Pension Account Funding

This law increases contributions to a pension account for volunteer firefighters, EMTs, and search and rescue personnel by raising insurance premium taxes and member payments.

What This Bill Does

Increases the maximum percentage of fire insurance premium taxes that can be put into the Volunteer Pension Account from 80% to 100%
Raises monthly contributions by volunteer firefighters and EMTs from $15.00 to $18.75
Increases monthly contributions by search and rescue volunteers from $30.00 to $37.50

Who It Names or Affects

Volunteer firefighters, emergency medical technicians (EMTs), and search and rescue personnel who participate in the pension plan

Terms To Know

Pension Account: A fund that collects money to pay for retirement benefits of volunteer workers.
Fire Insurance Premium Taxes: Taxes collected from insurance companies based on the premiums they charge for fire insurance policies.

Limits and Unknowns

The law does not specify how much more money will be added to the pension account as a result of these changes.
It is unclear if all volunteer firefighters, EMTs, and search and rescue personnel will participate in this plan.

Bills Worth Reading With This One

These pairings are meant to flag bills from the same session that may have a bigger real-world effect when you read them together.

SF0117

Both bills address issues related to first responders, specifically volunteer firefighters and EMTs in Bill A and peace officers, firefighters, search and rescue personnel, and ambulance personnel in Bill B.

High confidence Needs review

Possible combined effect: Bill A increases funding for the Volunteer Pension Account by raising insurance premium taxes and member contributions. Bill B expands worker's compensation coverage for mental injuries experienced by first responders, including volunteer firefighters and EMTs covered under Bill A.

Why this got flagged:

Both bills impact the financial support and health benefits of volunteer firefighters and EMTs. Reviewing them together provides a comprehensive understanding of the legislative efforts to improve the welfare of these first responders.

increases contributions to the Volunteer Firefighter, EMT and Search and Rescue Pension Plan
Volunteer Firefighter, EMT and Search and Rescue Pension Account
specifies when mental injury is considered a compensable injury for first responders
defines 'first responder' to include peace officers, firefighters, search and rescue personnel and ambulance personnel

Bill History

2020-03-13 LSO
Assigned Chapter Number 107
2020-03-13 Governor
Governor Signed SEA No. 0043
2020-03-10 House
H Speaker Signed SEA No. 0043
2020-03-09 Senate
S President Signed SEA No. 0043
2020-03-09 LSO
Assigned Number SEA No. 0043
2020-03-09 House
H 3rd Reading:Passed 52-5-2-0-1
2020-03-06 House
H 2nd Reading:Passed
2020-03-05 House
H COW:Passed
2020-03-04 House
H Placed on General File
2020-03-04 House
H02 - Appropriations:Recommend Do Pass 7-0-0-0-0
2020-03-03 House
H Introduced and Referred to H02 - Appropriations
2020-02-18 House
H Received for Introduction
2020-02-18 Senate
S 3rd Reading:Passed 28-1-0-0-1
2020-02-17 Senate
S 2nd Reading:Passed
2020-02-14 Senate
S COW:Passed
2020-02-12 Senate
S Placed on General File
2020-02-12 Senate
S02 - Appropriations:Recommend Do Pass 5-0-0-0-0
2020-02-11 Senate
S Introduced and Referred to S02 - Appropriations 27-1-1-0-1
2020-02-10 Senate
S Received for Introduction
2020-02-08 LSO
Bill Number Assigned

Official Summary Text

Bill Summary - 20LSO-0108
Bill No.:

SF0092

Effective:

7/1/2020 12:00:00 AM

LSO No.:

20LSO-0108

Enrolled Act No.:

SEA No. 0043

Chapter No.:

107

Prime Sponsor:

Joint Appropriations Committee

Catch Title:

Volunteer pension account-funding.

Subject:

Contributions to the Volunteer Pension Account.

Summary/Major Elements:

Under existing law, volunteer firefighters, emergency medical technicians (EMTs) and search and rescue personnel who meet certain criteria may participate in the Volunteer Firefighter, EMT and Search and Rescue Pension Plan.

The act increases the percentage of fire insurance premium taxes paid into the Volunteer Firefighter, EMT and Search and Rescue Pension Account (Volunteer Pension Account) from a maximum of eighty percent (80%) to a maximum of one hundred percent (100%) of the amount collected. The specific percentage that is paid is calculated by the Wyoming Retirement System as the percentage necessary to achieve one hundred seven percent (107%) funding status for the Volunteer Pension Account.

The act increases the amounts required to be contributed by members to the Volunteer Pension Account by twenty-five percent (25%), resulting in an increase from fifteen dollars ($15.00) to eighteen dollars and seventy-five cents ($18.75) for volunteer firefighter and EMT members and an increase from thirty dollars ($30.00) to thirty-seven dollars and fifty cents ($37.50) for volunteer search and rescue members.
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.

Current Bill Text

Read the full stored bill text

20LSO-0108

ORIGINAL Senate

File No
.
SF0092

ENROLLED ACT NO. 43,

SENATE

SIXTY-FIFTH LEGISLATURE OF THE STATE OF WYOMING
2020 Budget Session

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

Section 1.

W.S. 26
‑
4
‑
102(b)(ii), 35
‑
9
‑
621(e) and 35
‑
9
‑
628(a)(intro) are amended to read:

26
‑
4
‑
102.

Record of receipts; payment to treasurer; credit to fund.

(b)

The commissioner shall promptly deposit all monies he receives from any charges to the general fund, with receipt and acknowledgement submitted to the state treasurer, except that:

(ii)

An amount not to exceed eighty percent (80%)
Up to one hundred percent (100%)
of the gross premium tax levied upon fire insurance premiums shall be deposited by the state treasurer in the volunteer firefighter, EMT and search and rescue pension account pursuant to W.S. 35
‑
9
‑
628. For purposes of this paragraph, the gross premium tax levied upon fire insurance premiums is equal to thirty percent (30%) of the total gross premium tax levied upon all property, casualty and multiple line insurers;

35
‑
9
‑
621.

Benefits enumerated; death of participant or spouse; amount and payment of contributions; death benefits; withdrawal from pension account.

(e)

A volunteer firefighter or volunteer EMT is a participating member under this article for each month a contribution of
fifteen dollars ($15.00)
eighteen dollars and seventy
‑
five cents ($18.75)
is made by or on behalf of the member. A volunteer search and rescue person is a participating member under this article for each month a contribution of
thirty dollars ($30.00)
thirty
‑
seven dollars and fifty cents ($37.50)
is made by or on behalf of the member. For purposes of eligibility for benefits under subsections (b) and (c) of this section, a volunteer firefighter, EMT or search and rescue person is a participating member beginning the first month following the month in which the required monthly payment and any required application for participation is actually received by the Wyoming retirement system. To continue as a participating member, subsequent monthly payments shall be received by the Wyoming retirement system not later than three (3) months following the close of the calendar month for which the payments are applicable. With the consent of and upon any terms and conditions established by the board, payments may be accepted at an earlier or later date. The board shall maintain full and complete records of the contributions made on behalf of each participating member and on request, shall furnish any participating member a statement of the contribution amounts and the dates for which contributions were received. If contributions have varied in amount, the board may make appropriate adjustments in the benefits awarded. In making any adjustment, the board shall be guided by actuarial practice to afford substantial equity to members of the pension account. No penalty shall be imposed upon any participating member transferring employment in Wyoming if required payments are made on a timely basis.

35
‑
9
‑
628.

Deposit of tax on fire insurance premiums into account.

(a)

As provided in this subsection, the state treasurer shall deposit into the account
an amount not to exceed eighty percent (80%)
up to one hundred percent (100%)
of the gross tax levied upon fire insurance premiums paid to insurance companies for fire insurance in the state of Wyoming for the preceding calendar quarter, as computed under W.S. 26
‑
4
‑
102(b)(ii) and provided by W.S. 26
‑
4
‑
103(k). The sum specified shall be calculated by the Wyoming retirement system:

Section 2
.

This act is effective July 1, 2020
.

(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