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23LSO-0510
2023
STATE OF WYOMING
23LSO-0510
Introduced
2.0
SENATE FILE NO. SF0158
Public employee retirement plan-contributions.
Sponsored by: Joint Appropriations Committee
A BILL
for
AN ACT relating to public employees; increasing employee and employer contributions in the public employee retirement plan; requiring the increased employee contributions to be paid through a reduction in cash salary of the employee as specified; removing archaic language; providing appropriations; and providing for an effective date.
Be It Enacted by the Legislature of the State of Wyoming:
Section 1
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W.S. 9
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3
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412(a) and 9
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3
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413 are amended to read:
9
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3
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412.
Members' contributions; payroll deductions; employer authorized to pay employee's share.
(a)
Except as otherwise provided in this section and W.S. 9
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3
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431 and 9
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3
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432, every member covered under this article, shall pay into the account
eight and one
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half percent (8.5%) of his salary for the period from September 1, 2018 through June 30, 2019, eight and three
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quarters percent (8.75%) of his salary for the period from July 1, 2019 through June 30, 2020, nine percent (9%) of his salary for the period from July 1, 2020 through June 30, 2021 and thereafter
nine and one
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quarter percent (9.25%) of his salary
for the period from July 1, 2021 through June 30, 2023 and thereafter nine and three
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quarters percent (9.75%) of his salary
. Every firefighter member covered under this article shall pay into the account seven percent (7%) of his salary.
Payments shall be deducted each pay period from each member's salary by the chief fiscal officer of each participating employer.
Employee contributions shall be transferred to the account in accordance with subsection (c) of this section.
9
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3
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413.
Employer's contributions; payable monthly; transfer to account; interest imposed upon delinquent contributions; recovery.
Except as provided by W.S. 9
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2
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3207(a)(xi)(F)(III) or (IV), 9
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3
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431 and 9
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3
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432, each employer excluding employers of firefighter members, shall on a monthly basis, pay into the account a contribution equal to
eight and sixty
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two hundredths percent (8.62%) of the salary paid to each of its members covered under this article for the period from September 1, 2018 through June 30, 2019, eight and eighty
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seven hundredths percent (8.87%) of the salary paid for the period from July 1, 2019 through June 30, 2020, nine and twelve hundredths percent (9.12%) of the salary paid for the period from July 1, 2020 through June 30, 2021 and thereafter
nine and thirty
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seven hundredths percent (9.37%) of the salary paid
for the period from July 1, 2021 through June 30, 2023 and thereafter nine and eighty
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seven hundredths percent (9.87%) of the salary paid
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Employers of firefighter members shall pay into the account a contribution equal to seven and twelve hundredths percent (7.12%) of the salary paid.
Employer contributions for any month, together with the members' contributions for that month, if any, shall be transferred to the board not later than the twelfth day of the following month.
These contributions shall be credited to the account in a manner as directed by the board.
Any employer failing to transfer contributions under this section in sufficient time for the board to receive the contributions by the twenty
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fifth day of the month due shall be assessed interest at the assumed rate of return as determined by the board, compounded annually. Interest imposed under this section shall be payable not later than the twelfth day of the next succeeding month. If the contributions and any interest imposed under this section are not transferred to the board when due, they may be recovered, together with court costs, in an action brought for that purpose in the first judicial district court in Laramie County, Wyoming.
Section 2.
(a)
There is appropriated to the state auditor from the general fund the following amounts:
(i)
Twenty
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five thousand dollars ($25,000.00) for legislative branch employer contributions;
(ii)
Seventy
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five thousand dollars ($75,000.00) for judicial branch employer contributions;
(iii)
One million two hundred thousand dollars ($1,200,000.00) for state executive branch employer contributions;
(iv)
Three hundred twenty
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five thousand dollars ($325,000.00) for community college employer contributions;
(v)
Five hundred fifty thousand dollars ($550,000.00) for University of Wyoming employer contributions.
(b)
There is appropriated to the state auditor three million nine hundred thousand dollars ($3,900,000.00) from the school foundation program account for school districts employer contributions.
(c)
For state agency employers whose retirement contributions are made from non
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general fund sources, there is appropriated from those accounts and funds amounts necessary to provide payment of the increase in employer contribution rates required by W.S. 9
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3
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413, as amended by section 1 of this act.
(d)
The appropriations under paragraphs (a)(i) through (iii) and subsection (c) of this section shall only be expended to provide payment of the increase in each state agency's employer contribution rates required by W.S. 9
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3
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413, as amended by section 1 of this act, for fiscal year 2024. The appropriation under paragraphs (a)(iv) and (v) of this section shall only be expended for the purpose of providing payment of the increase in the University of Wyoming and community college employer contribution rates required by W.S. 9
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3
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413, as amended by section 1 of this act, and to provide like contributions under W.S. 21
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19
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101 through 21
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19
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106 corresponding to the increased employer contributions under this act for fiscal year 2024.
(e)
The appropriation under subsection (b) of this section shall only be expended for the purpose of providing each school district's increased employer contribution required by W.S. 9
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3
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413, as amended by section 1 of this act, for fiscal year 2024. The state auditor shall transfer the funds to the state retirement system or to the department of education for distribution to individual school districts as determined by the department of education to be necessary to meet the provisions of this act. Any unexpended school foundation program account funds appropriated under subsection (b) of this section on June 30, 2024 shall revert to the school foundation program account.
(f)
No amount of the appropriations made in this section shall be used to provide the increased employee contribution required by this act.
(g)
Notwithstanding any other provision of law, the appropriations under this section shall not be transferred or expended for any purpose other than as specified in this section. Any unexpended, unobligated funds remaining from the appropriations made in this section shall revert as provided by law on June 30, 2024.
(h)
The state auditor shall transfer the funds to the state retirement system or to individual state agencies as determined by the department of administration and information to be necessary to meet the provisions of this act.
(j)
As used in this section, "state agency" includes each state executive, legislative or judicial department, board, commission or other agency or instrumentality of the state and, for purposes of subsections (c) and (k) of this section, includes the University of Wyoming and each community college.
(k)
It is the intent of the legislature that the appropriations made in this section be included in each state agency's standard budget request for the immediately succeeding fiscal biennium.
Section 3
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This act is effective July 1, 2023
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(END)
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SF0158