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HB0107 • 2021

Retirement system-efficient disbursement method.

AN ACT relating to the state retirement system; authorizing retirement system disbursement mechanisms approved by the state auditor; and providing for an effective date.

Enacted

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

Sponsor
Representative Henderson
Last action
2021-04-02
Official status
enrolled
Effective date
7/1/2021

Plain English Breakdown

The exact types of retirement benefits affected are not specified in the provided official summary or text, only that an alternative method can be approved for disbursement.

Making Retirement Payments Easier

This law allows the State Auditor to approve new ways for retirement benefits to be paid out, after reviewing their legality with the Attorney General.

What This Bill Does

  • The State Auditor can now choose different methods to pay out retirement money instead of just using warrants (special checks).
  • Before a new payment method is used, it must first be reviewed and approved by both the State Auditor and the Attorney General.

Who It Names or Affects

  • People who receive retirement benefits from the state.
  • The State Auditor and the Attorney General.

Terms To Know

State Auditor
A person who checks how money is spent by government agencies, including for retirement payments.
Attorney General
The top lawyer of the state who makes sure laws are followed correctly.

Limits and Unknowns

  • It's not clear what specific new methods might be approved in the future.
  • This law only affects how retirement money is paid out, not how much people get or when they can retire.

Amendments

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

HB0107HS001

Standing Committee • House Appropriations Committee

Adopted

Plain English: The amendment removes a requirement for state auditor supervision and adds new rules allowing the state auditor to approve different methods for paying out retirement benefits after reviewing them with the attorney general.

  • Removes the need for the state auditor to supervise the disbursement of retirement system benefits.
  • Adds a provision that allows the state auditor to approve alternative methods for disbursing retirement benefits, as long as these alternatives are reviewed and found legal by the attorney general.
  • The exact nature of the new disbursement mechanisms is not specified in the amendment text.

Bill History

  1. 2021-04-02 LSO

    Assigned Chapter Number 72

  2. 2021-04-02 Governor

    Governor Signed HEA No. 0043

  3. 2021-03-30 Senate

    S President Signed HEA No. 0043

  4. 2021-03-30 House

    H Speaker Signed HEA No. 0043

  5. 2021-03-29 LSO

    Assigned Number HEA No. 0043

  6. 2021-03-29 Senate

    S 3rd Reading:Passed 28-1-1-0-0

  7. 2021-03-26 Senate

    S 2nd Reading:Passed

  8. 2021-03-25 Senate

    S COW:Passed

  9. 2021-03-22 Senate

    S Placed on General File

  10. 2021-03-22 Senate

    S02 - Appropriations:Recommend Do Pass 4-0-1-0-0

  11. 2021-03-17 Senate

    S Introduced and Referred to S02 - Appropriations

  12. 2021-03-04 Senate

    S Received for Introduction

  13. 2021-03-03 House

    H 3rd Reading:Passed 60-0-0-0-0

  14. 2021-03-02 House

    H 2nd Reading:Passed

  15. 2021-03-01 House

    H COW:Passed

  16. 2021-03-01 House

    H Placed on General File

  17. 2021-03-01 House

    H02 - Appropriations:Recommend Amend and Do Pass 7-0-0-0-0

  18. 2021-02-05 House

    H Introduced and Referred to H02 - Appropriations

  19. 2021-02-05 House

    H Received for Introduction

  20. 2021-02-04 LSO

    Bill Number Assigned

Official Summary Text

Bill Summary - 21LSO-0479
Bill No.:

HB0107

Effective:

7/1/2021 12:00:00 AM

LSO No.:

21LSO-0479

Enrolled Act No.:

HEA No. 0043

Chapter No.:

72

Prime Sponsor:

Henderson

Catch Title:

Retirement system-efficient disbursement method.

Subject:

Disbursement of retirement system benefits.

Summary/Major Elements:

This act provides that the State Auditor may approve an alternative method to the use of warrants drawn by the State Auditor for the disbursement of retirement system benefits, provided that the Attorney General reviews the legality of the alternative method.
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 
21LSO-0479

ORIGINAL House

Bill No
.
HB0107

ENROLLED ACT NO. 43,

HOUSE OF REPRESENTATIVES

SIXTY-SIXTH LEGISLATURE OF THE STATE OF WYOMING
2021 General Session

AN ACT relating to the state retirement system; authorizing retirement system disbursement mechanisms approved by the state auditor; and providing for an effective date.

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

Section 1
.

W.S. 9
‑
1
‑
402 by creating a new subsection (d), 9
‑
3
‑
408(a), 9
‑
3
‑
710, 15
‑
5
‑
422(a) and 35
‑
9
‑
617(b) are amended to read:

9
‑
1
‑
402.

State auditor; duties generally.

(d)

The state auditor may approve an alternative to the use of warrants drawn by the state auditor for the disbursement of retirement system benefits, provided that the attorney general reviews the legality of the alternative.

9
‑
3
‑
408.

Designated custodian of retirement account; disbursements; investment of account monies.

(a)

The board may designate the state treasurer or a master custodial bank approved by the state treasurer as the custodian of the retirement account. Disbursements from the retirement account for purposes specified in W.S. 9
‑
3
‑
407(c) shall be made
only
upon warrants drawn by the state auditor upon certification by authorized system employees
or using an appropriate alternative method approved by the state auditor
. All retirement account disbursements shall be accounted for in accordance with the uniform state accounting system or in a manner approved by the state auditor or the state treasurer as provided under W.S. 9
‑
4
‑
214. As used in this subsection, "authorized system employees" means the director and his designees who have authorized signatures on file with the state auditor.

9
‑
3
‑
710.

Disposition of funds; custodian of monies.

Funds accruing to the account used to fund benefits for the program under this act shall be commingled with all money on deposit with the state treasurer in the Wyoming retirement account. The board may designate the state treasurer as the custodian of the retirement account. Disbursements from the account for purposes as specified in W.S. 9
‑
3
‑
407(c) shall be made
only
upon warrants drawn by the state auditor upon certification by authorized system employees
or using an appropriate alternative method approved by the state auditor
.

All disbursements from the account shall be accounted for in accordance with the uniform state accounting system or in a manner approved by the state auditor or the state treasurer as provided under W.S. 9
‑
4
‑
214.

As used in this section, "authorized system employees" means the director and his designees who have authorized signatures on file with the state auditor, "director" means the director of the Wyoming retirement system, and "system" means the Wyoming retirement system.

15
‑
5
‑
422.

Payments; when and how made; protections; nonassignability; qualified domestic relations order.

(a)

Payments made under this article shall be made to the beneficiaries on or before the fifth day of each month
.

and
Payments
shall be made by voucher drawn against the firemen's pension account and paid by the state auditor out of the account
or using an appropriate alternative method approved by the state auditor
. No payments made under this article are subject to judgment, attachment, execution, garnishment or other legal process and are not assignable nor shall the board recognize any assignment nor pay over any sum assigned.

35
‑
9
‑
617.

Volunteer firefighter, EMT and search and rescue pension account; merger with other pension accounts; membership.

(b)

The account established under subsection (a) of this section shall be controlled by the board and administered by the director of the Wyoming retirement system. All expenses of administration shall be paid from the account. Disbursements from the account shall be made
only
upon warrants drawn by the state auditor upon certification by authorized system employees
or using an appropriate alternative method approved by the state auditor
.

Section 2
.

This act is effective July 1, 2021
.

(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