2020 Legislative Recap

Here is a recap of bills that impacted or potentially impacted WRS. Please note that only one bill affecting any of the retirement plans actually passed: Senate File 92, Volunteer Pension Account Funding. 

Senate File 0092 Volunteer pension account-funding 
Adjust the contribution rate for members and provide additional Fire Insurance Premium tax. 

The following bills were considered, but did not pass.

Senate File 0051 Wyoming retirement plans – contributions 
Increase the employee contribution rate in the Law Enforcement and Warden/Patrol plans to improve the funding status of the plan.  

Senate File 0108 Public employee retirement
Increase the normal retirement age from 65 to 67 and change the rule of 85 to the rule of 90.  In addition, a 1% increase to the contribution rate would be phased in over three years.

Senate File 0124 Early retirement discount factor
Change the early retirement discount factor from 5% to 7%.  

House Bill 0110 Non-recurring retiree inflation adjustment 
Provide two additional one-time payments to retirees, up to a maximum of 3%.

House Bill 0112 Wyoming retirement plans-adjustments
The WRS board shall conduct a study regarding diminishing purchasing power and the funds actuarial funded ratio.  In addition, the bill would provide two one-time payments to retirees, up to a maximum of 3%.

WRS provides updates during the session via our website and Facebook, and agency leadership provides regular testimony before Wyoming House and Senate Committees.  Providing accurate information about the health of your funds is WRS’ priority.

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