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S.F. No. 0009 |
State retirement-board immunity. |
Sponsored By: Management Audit Committee
AN ACT relating to the Uniform Management of Public Employee Retirement Systems Act; clarifying personal liability of board members of any public employer retirement system; specifying intent; and providing for an effective date.
12/5/2007 Bill Number Assigned
2/11/2008 S Received for Introduction
2/11/2008 S Introduced and Referred to S07
ROLL CALL
Ayes: Senator(s) Anderson, J., Aullman, Bebout, Burns, Case, Coe, Cooper, Decaria, Fecht, Geis, Hastert, Hines, Jennings, Job, Johnson, Landen, Larson, Massie, Meier, Mockler, Nicholas, Perkins, Peterson, Ross, Schiffer, Scott, Sessions, Townsend, Vasey and Von Flatern
Ayes 30 Nays 0 Excused 0 Absent 0 Conflicts 0
2/12/2008 S07 Recommended Amend and Do Pass
ROLL CALL
Ayes: Senator(s) Case, Cooper, Decaria, Larson and Scott
Ayes 5 Nays 0 Excused 0 Absent 0 Conflicts 0
2/12/2008 S Placed on General File
SF0009SS001/ADOPTED
Page 2-line 12 After "trustee" insert "who by willful misconduct or gross negligence,"; delete "by willful".
Page 2-line 13 Delete through "negligence". CASE, CHAIRMAN
2/13/2008 S Passed CoW
2/14/2008 S Passed 2nd Reading
2/15/2008 S Passed 3rd Reading
ROLL CALL
Ayes: Senator(s) Anderson, J., Aullman, Bebout, Burns, Case, Coe, Cooper, Decaria, Fecht, Geis, Hastert, Hines, Jennings, Job, Johnson, Landen, Larson, Massie, Meier, Mockler, Nicholas, Perkins, Peterson, Ross, Schiffer, Scott, Sessions, Townsend, Vasey and Von Flatern
Ayes 30 Nays 0 Excused 0 Absent 0 Conflicts 0
2/18/2008 H Received for Introduction
2/19/2008 H Introduced and Referred to H01
2/21/2008 H01 Recommended Do Pass
ROLL CALL
Ayes: Representative(s) Alden, Bagby, Buchanan, Dockstader, Mercer, Olsen, Shepperson and Throne
Nays: Representative(s) Gingery
Ayes 8 Nays 1 Excused 0 Absent 0 Conflicts 0
2/21/2008 H Placed on General File
SF0009HW001/FAILED (TO ENGROSSED COPY)
Page 1-line 3 After "members" delete balance of line.
Page 1-line 4 Delete "fiduciaries".
Page 1-line 5 After "accordingly;" insert "providing for reliance on information as specified;".
Page 1-line 10 After "W.S." delete balance of line.
Page 1-line 11 Delete "(e),"; after "9-3-443" delete "(a)" insert "by creating a new subsection (e)".
Page 1-lines 13 through 16 Delete entirely.
Page 2-lines 1 through 8 Delete entirely.
Page 2-lines 12 through 19 Delete entirely and insert:
"(e) In discharging any of his duties under this act, a trustee is:
(i) Entitled to rely on information, opinions, reports or statements, including financial statements and other financial data, if prepared or presented by:
(A) One (1) or more officers or employees of the board whom the trustee reasonably believes to be reliable and competent in the matters presented;
(B) Legal counsel, public accountants or other persons as to matters the trustee reasonably believes are with the person's professional or expert competence; or
(C) A committee of the board of which he not a member if the trustee reasonably believes the committee merits confidence.
(ii) Not acting in good faith if he has knowledge concerning the matter in question that makes reliance otherwise permitted by paragraph (i) of this subsection unwarranted;
(iii) Not liable for any action taken as a trustee, or any failure to take any action, if he performed the duties of his office in compliance with this subsection.".
Page 3-lines 13 through 19 Delete entirely and insert:
"(b) In discharging any of his duties under W.S. 35-9-601 through 35-9-615, a member is:
(i) Entitled to rely on information, opinions, reports or statements, including financial statements and other financial data, if prepared or presented by:
(A) One (1) or more officers or employees of the board whom the member reasonably believes to be reliable and competent in the matters presented;
(B) Legal counsel, public accountants or other persons as to matters the member reasonably believes are with the person's professional or expert competence; or
(C) A committee of the board of which he not a member if the member reasonably believes the committee merits confidence.
(ii) Not acting in good faith if he has knowledge concerning the matter in question that makes reliance otherwise permitted by paragraph (i) of this subsection unwarranted;
(iii) Not liable for any action taken as a member, or any failure to take any action, if he performed the duties of his office in compliance with this subsection.". GINGERY, BUCHANAN
2/25/2008 H Passed CoW
SF0009H2001/ADOPTED (TO ENGROSSED COPY)
Page 1-line 3 After "members" delete balance of line and insert ";".
Page 1-line 4 Delete entirely.
Page 1-line 5 Delete line through "accordingly;".
Page 1-line 10 After "W.S." delete balance of the line.
Page 1-line 11 Delete "(e),"; delete "and 35-9-610 are" insert "and by creating a new subsection (e) is".
Page 1-lines 13 through 16 Delete entirely.
Page 2-lines 1 through 8 Delete entirely.
Page 2-line 12 After "(a)" insert "Except as provided in subsection (e) of this section"; delete all new language.
Page 2-line 13 Delete all new language.
Page 2-After line 19 Insert:
"(e) For purposes of the Wyoming Governmental Claims Act, W.S. 1-39-101 through 1-39-121, individual board members of a retirement system shall be deemed public employees and shall be granted immunity from liability while acting within the scope of administering and operating the retirement system including while in performance of their fiduciary duties.".
Page 2-line 21 through 23 Delete entirely.
Page 3-line 1 through 19 Delete entirely. BROWN
2/26/2008 H Passed 2nd Reading
SF0009H3001/ADOPTED (TO ENGROSSED COPY)
Delete the Brown second reading amendment (SF0009H2001/AE) entirely and further amend as follows:
Page 1-line 3 After "members;" delete balance of the line.
Page 1-line 4 Delete "fiduciaries".
Page 1-line 10 After "W.S." delete balance of line.
Page 1-line 11 Delete "(e),".
Page 1-lines 13 through 16 Delete entirely.
Page 2-lines 1 through 8 Delete entirely.
Page 2-lines 12 and 13 Delete all new language.
Page 2-line 19 After "removal." Insert "Individual members of a retirement system board are personally liable only to the extent provided in W.S. 1-23-107.".
Page 3-line 1 Delete new language.
Page 3-line 11 After "9-1-202." insert "Individual members of the board are personally liable under the uniform management of public employee retirement systems act only to the extent provided in W.S. 1-23-107.".
Page 3-lines 13 through 19 Delete entirely.
Page 3-line 23 Delete entirely.
Page 3-line 24 Delete "retirement"; delete "and" insert "members, including board members of". BROWN
2/27/2008 H Passed 3rd Reading
ROLL CALL
Ayes: Representative(s) Alden, Anderson, R., Bagby, Berger, Blake, Brechtel, Brown, Buchanan, Childers, Cohee, Craft, Davison, Diercks, Dockstader, Edmonds, Edwards, Esquibel, F., Esquibel, K., Gilmore, Goggles, Hales, Hallinan, Hammons, Harshman, Harvey, Illoway, Jaggi, Jones, Jorgensen, Landon, Lockhart, Madden, Martin, McOmie, Mercer, Meyer, Miller, Millin, Olsen, Petersen, Philp, Quarberg, Samuelson, Semlek, Shepperson, Simpson, Slater, Steward, Stubson, Teeters, Thompson, Throne, Wallis, Warren, White, Zwonitzer, Dn. and Zwonitzer, Dv.
Nays: Representative(s) Gingery and Lubnau
Excused: Representative(s) Iekel
Ayes 57 Nays 2 Excused 1 Absent 0 Conflicts 0
2/27/2008 S Did Not Concur
ROLL CALL
Nays: Senator(s) Anderson, J., Aullman, Bebout, Burns, Case, Coe, Cooper, Decaria, Fecht, Geis, Hastert, Hines, Jennings, Job, Johnson, Landen, Larson, Massie, Meier, Mockler, Nicholas, Perkins, Peterson, Ross, Schiffer, Scott, Sessions, Townsend, Vasey and Von Flatern
Ayes 0 Nays 30 Excused 0 Absent 0 Conflicts 0
2/28/2008 H Appointed JCC01 Members
Representative(s) Olsen, Esquibel, F., Gingery
2/29/2008 S Appointed JCC01 Members
Senator(s) Case, Landen, Mockler
3/5/2008 S Appointed JCC02 Members
Senator(s) Case, Perkins, Ross
3/5/2008 H Appointed JCC02 Members
Representative(s) Brown, Martin, Warren
3/7/2008 S Adopted SF0009JC02
ROLL CALL
Ayes: Senator(s) Anderson, J., Aullman, Bebout, Burns, Case, Coe, Cooper, Decaria, Fecht, Geis, Hastert, Hines, Jennings, Job, Johnson, Landen, Larson, Massie, Meier, Mockler, Nicholas, Perkins, Peterson, Ross, Schiffer, Scott, Sessions, Townsend, Vasey and Von Flatern
Ayes 30 Nays 0 Excused 0 Absent 0 Conflicts 0
3/7/2008 H Adopted SF0009JC02
ROLL CALL
Ayes: Representative(s) Alden, Anderson, R., Bagby, Blake, Brown, Buchanan, Cohee, Craft, Dockstader, Edwards, Gilmore, Hales, Hallinan, Hammons, Harshman, Iekel, Illoway, Jaggi, Jones, Jorgensen, Landon, Lockhart, Lubnau, Madden, Martin, McOmie, Mercer, Meyer, Millin, Olsen, Petersen, Philp, Quarberg, Samuelson, Semlek, Shepperson, Simpson, Slater, Steward, Stubson, Teeters, Thompson, Throne, Wallis, Warren, White and Zwonitzer, Dv.
Nays: Representative(s) Brechtel, Diercks, Edmonds, Esquibel, K., Gingery, Goggles and Miller
Excused: Representative(s) Berger, Childers, Davison, Esquibel, F., Harvey and Zwonitzer, Dn.
Ayes 47 Nays 7 Excused 6 Absent 0 Conflicts 0
SF0009JC02/AA ADOPTED (TO ENGROSSED COPY)
Delete the following House amendments:
SF0009H2001/AE
SF0009H3001/AE
Further amend the ENGROSSED COPY as follows:
Page 1-line 3 After "members" delete balance of line and insert "of any public employer retirement system;".
Page 1-line 4 Delete entirely.
Page 1-line 5 Delete line through "accordingly;".
Page 1-line 10 After "W.S." delete balance of line.
Page 1-line 11 Delete "(e),"; after "(a)" delete "and 35-9-610 are" and insert "and by creating a new subsection (e) is".
Page 1-line 13 through 16 Delete entirely.
Page 2-lines 1 through 8 Delete entirely.
Page 2-line 12 After "(a)" insert "Except as provided in subsection (e) of this section,"; delete all new language.
Page 2-line 13 Delete all new language.
Page 2-After line 19 Insert:
"(e) Notwithstanding subsection (a) of this section and as provided in the Wyoming Governmental Claims Act, individual board members of a retirement system are immune from liability while acting within the scope of administering and operating a retirement system and are not personally liable for breaches of fiduciary duties in carrying out system administration and operation except in cases of willful misconduct, intentional torts or illegal acts.".
Page 2-lines 21 through 23 Delete entirely.
Page 3-lines 1 through 19 Delete entirely.
Page 3-line 22 After "of" insert "any".
Page 3-lines 23 and 24 Delete entirely and insert "board member under the Uniform Management of Public Employee Retirement Systems Act".
Page 4-line 1 Delete "pension board,". CASE, PERKINS, ROSS, BROWN, MARTIN, WARREN.
3/7/2008 Assigned Number SEA No. 0059
3/7/2008 S President Signed SEA No. 0059
3/7/2008 H Speaker Signed SEA No. 0059
3/12/2008 Governor Signed SEA No. 0059
3/12/2008 Assigned Chapter Number
Chapter No. 0079 Session Laws of Wyoming 2008.