Bill No.: HB0252 Drafter: DJL

 

LSO No.: 09LSO-0537 Effective Date: 3/2/2009

 

Enrolled Act No.: HEA0068

 

Chapter No.: 108

 

Prime Sponsor: Representative Landon

 

Catch Title: Wyoming retirement system-hospital participation.

 

Subject: Participation in the Wyoming retirement system by county hospitals and special hospital districts.

 

Summary/Major Elements:

 

         In 2008, employees of county memorial hospitals and special hospital districts were allowed to participate in the Wyoming retirement system if that institution elected to not participate in any other retirement system;

 

         Under the 2008 law, county hospitals and special hospital districts were not allowed to participate until sufficient funds were deposited into the retirement account necessary to maintain account actuarial integrity. Further, each institution had to elect whether or not to participate prior to January 1, 2009;

 

         Effective under the enacted law, county hospitals and special hospital districts must provide the retirement board with written notice of an election for participation in the state system, together with a requirement that participation be contingent upon receipt of sufficient funding of prior employee service to maintain actuarial soundness of retirement account;

 

         The January 1, 2009 election date was repealed.