This bill amends the Wyoming Retirement Act to increase both employee and employer contributions for law enforcement officers. Specifically, it establishes that each law enforcement officer will contribute 8.6% of their salary through June 30, 2024, and thereafter, this contribution will increase to 11.1%. Similarly, employers will also contribute 8.6% of the salary through June 30, 2024, with the same increase to 11.1% thereafter. These contributions are intended to fund benefits for law enforcement officers and are treated as employer contributions for tax purposes under the United States Internal Revenue Code.

The bill also outlines the eligibility criteria for normal and early retirement benefits for law enforcement officers, maintaining the existing structure while ensuring that the retirement plan remains adequately funded. The act is set to take effect on July 1, 2024.

Statutes affected:
24LSO-0161 v0.5: 9-3-432