HB0196 - Policemen's pension fund contributions.

 

2001

State of Wyoming

01LSO-0408

 

 

 

HOUSE BILL NO.  HB0196

 

 

Policemen's pension fund contributions.

 

Sponsored by:

 

 

A BILL

 

for

 

 1  AN ACT relating to policemen pensions; authorizing cities
 2  and towns to pay the police officer's contribution to his
 3  pension fund; and providing for an effective date.

 4 

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

 6 

 7         Section 1.  W.S. 15-5-302(a) and (b) is amended to
 8  read:

 9 

10         15-5-302.  Pension fund; contributions; salary
11  deductions; unfunded liability; city or town and state
12  responsibilities; adjustment of contributions.

13 

14         (a)  The city or town shall contribute annually to the
15  existing account an actuarially determined amount which
16  combined with the police officers' contributions, or

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 1  contributions made on his behalf, will be sufficient to
 2  meet the normal costs of the account. The proceeds from the
 3  contribution shall be placed with the city treasurer in the
 4  existing account within the policemen pension fund. In
 5  addition, in accordance with subsection (f) of this
 6  section, the city treasurer shall may deduct from the
 7  salary of each police officer employed prior to July 1,
 8  1981, an amount not to exceed eight percent (8%) of the
 9  monthly compensation payable to that officer and, if
10  deducted, shall place it in the existing account within the
11  policemen pension fund. In lieu of deducting from the
12  salary of each police officer the amount specified in this
13  subsection, the city treasurer may, upon approval by the
14  governing body of the city or town, contribute a like
15  amount into the policemen pension fund.

16 

17         (b)  Notwithstanding the provisions of subsection (a)
18  of this section, the city treasurer shall may deduct from
19  the salary of each police officer employed after June 30,
20  1981 an amount specified by the board, which shall be
21  actuarially determined. Each city or town shall contribute
22  an amount equal to the amount contributed by each police
23  officer, or by the city or town on behalf of the police
24  officer, under this subsection. All contributions under

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 1  this subsection shall be deposited in the new account
 2  within the policemen pension fund.

 3 

 4         Section 2.  This act is effective immediately upon
 5  completion of all acts necessary for a bill to become law
 6  as provided by Article 4, Section 8 of the Wyoming
 7  Constitution.

 8 

 9                         (END)

 

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