The bill amends the Wyoming State Highway Patrol, Game and Fish Warden, and Criminal Investigator Retirement Act to increase employee contributions to the retirement fund. Specifically, it establishes that employees will contribute 14.56% of their salary from July 1, 2014, through June 30, 2024, and then increase to 18.92% thereafter. The bill removes outdated provisions regarding previous contribution rates and employer responsibilities for covering a portion of the employee contributions, streamlining the language to reflect the current requirements.

Additionally, the bill clarifies that contributions must be sourced from the funds used to pay employee salaries, allowing employers to manage these contributions through salary reductions or offsets against future salary increases. The effective date for this act is set for July 1, 2024. Overall, the changes aim to ensure the retirement fund is fully funded within 30 years by adjusting the contribution rates accordingly.

Statutes affected:
24LSO-0162 v0.5: 9-3-604