Bill Summary – FastDemocracy

                                                            23LSO-0510
                               STATE OF WYOMING
                               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.
 8
 Be It Enacted by the Legislature of the State of Wyoming:
10
        Section 1.    W.S. 9-3-412(a) and 9-3-413 are amended to
 read:
13
        9-3-412.    Members' contributions; payroll deductions;
 employer authorized to pay employee's share.
16
                                         1                  SF0158
                       STATE OF WYOMING                  23LSO-0510
        (a)   Except as otherwise provided in this section and
 W.S. 9-3-431 and 9-3-432, every member covered under this
 article,     shall pay into the account eight and one-half
 percent (8.5%) of his salary for the period from September
 1, 2018 through June 30, 2019, eight and three-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-quarter percent    (9.25%)    of his
 salary for the period from July 1, 2021 through June 30,
 2023 and thereafter nine and three-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.
19
        9-3-413.      Employer's contributions;      payable monthly;
 transfer to   account;      interest imposed upon delinquent
 contributions; recovery.
23
                                         2               SF0158
                         STATE OF WYOMING                          23LSO-0510
 Except as provided by W.S. 9-2-3207(a)(xi)(F)(III) or (IV),
 9-3-431 and 9-3-432, each employer excluding employers of
 firefighter members, shall on a monthly basis, pay into the
 account       a contribution equal to     eight and sixty-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-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-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-seven
 hundredths percent (9.87%) of the salary paid.                            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
                                              3                 SF0158
                       STATE OF WYOMING                         23LSO-0510
 contributions under this section in sufficient time for the
 board to receive the contributions by the twenty-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.
12
        Section 2.
14
        (a)   There is appropriated to the state auditor from
 the general fund the following amounts:
17
              (i)    Twenty-five thousand dollars     ($25,000.00)
 for legislative branch employer contributions;
20
              (ii)     Seventy-five thousand dollars ($75,000.00)
 for judicial branch employer contributions;
23
                                             4               SF0158
                       STATE OF WYOMING                  23LSO-0510
              (iii)     One million two hundred thousand dollars
 ($1,200,000.00)        for state executive branch employer
 contributions;
 4
              (iv)     Three hundred twenty-five thousand dollars
 ($325,000.00) for community college employer contributions;
 7
              (v)     Five hundred fifty thousand dollars
 ($550,000.00)         for University of    Wyoming employer
 contributions.
11
        (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.
16
        (c)   For state agency employers whose retirement
 contributions are made from non-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. 9-3-413, as amended by
 section 1 of this act.
23
                                        5               SF0158
                          STATE OF WYOMING                       23LSO-0510
        (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.
 9-3-413, 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. 9-3-413, as amended by section 1 of this
 act, and to provide like contributions under W.S. 21-19-101
 through 21-19-106 corresponding to the increased employer
 contributions under this act for fiscal year 2024.
14
        (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. 9-3-413, 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
                                              6                SF0158
                        STATE OF WYOMING                      23LSO-0510
 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.
 5
        (f)    No amount of   the appropriations made in   this
 section shall be used to provide the increased employee
 contribution required by this act.
 9
        (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.
16
        (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.
22
                                             7               SF0158
                       STATE OF WYOMING                     23LSO-0510
        (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.
 7
        (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.
12
        Section 3.      This act is effective July 1, 2023.
14
                                    (END)
                                        8                   SF0158
Statutes affected: 
Introduced: 9-3-412, 9-3-413