The bill amends the public employee retirement plan in Wyoming by increasing both employer and employee contribution rates. Specifically, employee contributions will rise from 9.25% to 9.50% of salary for the period from July 1, 2025, through June 30, 2026, while employer contributions will increase from 9.37% to 9.62% during the same period. The bill also specifies that firefighter members will contribute 7% of their salary, with employers of firefighter members contributing 7.12%. These changes are set to take effect on July 1, 2025.

Additionally, the bill appropriates funds to cover the increased employer contributions, totaling $1,741,500 from the general fund and $3,412,500 from the public school foundation program account for school districts. The appropriations are designated for specific state agencies, including the legislative, judicial, and executive branches, as well as community colleges and the University of Wyoming. Importantly, the appropriated funds cannot be used for increased employee contributions, and any unspent funds will revert to their respective accounts by June 30, 2026.

Statutes affected:
Introduced: 9-3-412, 9-3-413