HB0196 - Policemen's pension fund contributions.
2001 |
State of Wyoming |
01LSO-0408 |
HOUSE BILL NO. HB0196
Policemen's pension fund contributions.
Sponsored by: Representative(s) Parady, Baker, Nelson and
Watt and Senator(s)
Harris, Hinchey, Job and
Roberts
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
Page 1
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)
Page 3