Public employees-requirements upon rehiring-2.

13LSO-0203.C1

FISCAL NOTE

This bill would be funding neutral for the 3 pension plans involved.

Assumptions:

Although specific research on this bill has not been conducted, the Wyoming Retirement System (WRS) assumes the employer payment (equal to the total contributions required by the plan) required for rehired retirees filling a vacant full-time position would result in keeping the affected pension plans funding neutral with regard to rehired retirees. 

Because the funding of a pension plan depends on the contributions of active employees, a pension plan would be adversely affected if positions were lost to rehired retirees and there was not a commensurate payment. 

WRS assumes changing the waiting period from 30 days to one year would not materially change the impact rehired retirees have on the funding status of the plan.

The actual impact of this is not determinable without specific research on the experience of the population.

NOTICE-AGENCY ESTIMATE OF ADMINISTRATIVE IMPACT REQUESTED

This bill has administrative impact that appears to increase (or decrease) duties or responsibilities of one or more state agencies and may impact agency spending or staffing requirements. As introduced, the bill does not modify any state agency budget or current personnel authorizations.

The following state agencies will be asked to provide their estimate of the administrative fiscal impact prior to the first committee meeting held to consider the bill:

Wyoming Retirement System

Prepared by:   Dean Temte, LSO       Phone: 777-7881

(Information provided by Polly Scott, WRS; 777-3326)