2020 Rate Adjustment Vol Plan
April 14, 2020
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During the 2020 Legislative Session, SF 0092, Volunteer Pension account-funding, was passed to increase the funding status of your Volunteer Pension account. Starting July 2020 the following rates will be in effect:
Legislation also secured the final 20% of the Fire Insurance Premium tax, taking the portion the Volunteer Pension account receives from 80% to 100%. According to Wyoming Retirement System's actuary, this bill will result in achieving 100% funding status for the pension by 2034 instead of the current estimate of 2042.
Thank you for everything you do to partner with us to benefit all of our many State of Wyoming volunteers and all you are doing on the front lines during the crazy time we are living in. Stay safe and healthy.
WRS recognizes that any rate increase imposes a financial impact. However, a pension is still one of the most important benefits for employee recruitment and retention, particularly in the public safety area. It is wise to consider adjustments while the plan is still well-funded.
But for now, rates in the Law Enforcement Pension Plan remain as they have been. If you have further questions, please do not hesitate to reach out to our employer relations team at 307-777-2077 or ret-employer-relations@wyo.gov.
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David Swindell
Executive Director
