ORIGINAL SENATE

FILE NO. 0084

ENROLLED ACT NO. 13, SENATE

FIFTY-SIXTH LEGISLATURE OF THE STATE OF WYOMING

2001 GENERAL SESSION

AN ACT relating to the Wyoming retirement system; expanding
covered employers; providing for electronic reporting by
employers; requiring monthly payment of employer
contributions; modifying interest imposed upon delinquent
payments and specifying location of recovery actions
initiated by the board; modifying requirements for the
purchase of prior service credits; extending time
requirements for the redeposit of withdrawn contributions
prior to retirement; and providing for an effective date.

Be It Enacted by the Legislature of the State of Wyoming:

Section 1.  W.S. 9-3-402(a)(vi)(W), 9-3-409(b),
9-3-413 and 9-3-415(d) are amended to read:

9-3-402. Definitions.

(a) As used in this article:

(vi) "Employer" or "participating employer"
means:

(W) Any other political subdivision of the
state or local government or any organization or entity
which by virtue of its organization or purpose is
considered by the board to be a governmental entity and
receives a major portion of its funding from taxing
authority delegated by law, from federal, state or local
government or from an agency or political subdivision of
state or local government.

9-3-409. Retirement board; rules and regulations;
powers and privileges required to perform functions;
requiring employers to furnish information and keep
records.

Page 1

(b) The board shall:

(i) Regulate the duties of participating
employers imposed by this article; and

(ii) Specify the time, place, amount and manner
in which contributions shall be withheld and paid; and
shall

(iii) Require employers to furnish written
information in written or electronic format and keep
records necessary for the discharge of its duties under
this article. The board shall assist employers in complying
with any electronic reporting requirements imposed under
this paragraph.

9-3-413. Employer's contributions; payable monthly;
transfer to account; interest imposed upon delinquent
contributions; recovery.

Except as provided by W.S. 9-2-1022(a)(xi)(F)(III) or (IV),
each employer shall on a monthly basis, pay into the
account a contribution equal to five and sixty-eight
hundredths percent (5.68%) of the salary paid to each of
its members covered under this article and may on a monthly
basis, pay into the account any amount of the members'
share of retirement contributions. These Employer
contributions for any month, together with the members'
contributions for that month, if any, shall be transferred
and 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 contributions under this
section in sufficient time for the board to receive the
contributions by the twenty-fifth day of the month due

Page 2

shall be assessed interest at the rate of eight percent
(8%) per annum. 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 interest at
the rate of twelve percent (12%) per annum court costs, in
an action brought for that purpose in the first judicial
district court in and for the county in which the employer
has its principal office or place of activity in Laramie
County, Wyoming.

9-3-415. When retirement permitted; service credit.

(d) Any member may elect to purchase up to five (5)
years of service credit for full-time employment performed
for another state or political subdivision of another
state, the federal government or in Wyoming for a public
entity for which retirement coverage was not available. Any
member electing to purchase service credit shall pay into
the account not later than four (4) years after becoming a
member, a single lump-sum amount equal to the actuarial
equivalent of the benefits to be derived from the service
credit computed on the basis of actuarial assumptions
approved by the board and the individual's attained age and
average salary for the highest three (3) continuous years
of covered service. The lump-sum payment required under
this subsection shall be paid from the member's personal
funds and shall not be paid as part of any salary, bonus or
other benefit negotiated with the employer. Service credit
purchased under this paragraph subsection shall not be used
to determine vested eligibility to receive benefits under
this article.

Section 2.  1995 Session Laws, Chapter 60, Section 2
is amended to read:

Page 3

Section 2. Notwithstanding section 1 of this
act, any contributing member of the Wyoming
retirement system as of April 1, 1995, who is
eligible for reestablishing service credit under
W.S. 9-3-424(a), shall make the redeposit payment
required under W.S. 9-3-424(a) not later than
April 1, 2002 2004. Failure to make the required
payment on or before April 1, 2002 2004 shall
result in forfeiture of any right to reestablish
prior service credit in accordance with this act.

Section 3.  This act is effective July 1, 2001.

(END)

Speaker of the House President of the Senate

Governor

TIME APPROVED: _________

DATE APPROVED: _________

I hereby certify that this act originated in the Senate.

Chief Clerk

Page 4