WyomingWyoming pensions would use specified rates for each service year
Covered Wyoming retirement system members, including existing retirees, would have pensions calculated using specified percentages of salary for each year of credited service.
What it does
Covered members in the earlier-service groups, except firefighters, would use pension rates of 2¼% for the first 15 service years and 2⅜% for later years. Existing retirees would be included.
Covered members first employed after August 31, 2012, except firefighters, would use 2⅛% of highest average salary for each credited service year. Existing retirees would be included.
The proposal calls for removing three provisions from Wyoming's retirement laws. How that would affect members is unclear.
Argument forThe proposed pension payments could help covered members meet retirement expenses, including people who retired before July 1, 2026.
Argument againstPaying pensions at these rates could put pressure on the retirement system's resources, especially because already-retired members would be included.
More detail
The Wyoming retirement system would calculate these pensions using 2¼% of highest average salary per credited service year for the first 15 years and 2⅜% for later years. These formulas cover members first covered after July 30, 1981 and before September 1, 2012, and members with service after March 31, 1953 but before July 1, 1981. Firefighter members are excluded from this section. The Wyoming retirement system would have to take the steps needed to carry out the proposal. The main provisions would take effect July 1, 2026 if enacted, but these formulas say they apply after that date. The duty to carry out the proposal would take effect upon enactment.
The Wyoming retirement system would calculate these pensions using 2⅛% of highest average salary multiplied by years of credited service. This formula covers members initially employed after August 31, 2012, including covered members who retired before July 1, 2026. Firefighter members are excluded from this section. The main provisions would take effect July 1, 2026 if enacted, but this formula says it applies after that date.
The proposal calls for removing W.S. 9-3-453 and W.S. 9-3-454(a)(ii) and (iii). The instruction covers three listed provisions in Wyoming's retirement laws. This provision would take effect July 1, 2026 if enacted.
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Feb 14H Did not Consider for IntroductionLatest
- Feb 11H Received for IntroductionMinor
- Feb 11Bill Number AssignedIntroduced
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