Bill No.: HB0155                  Drafter:  MQ

 

LSO No.:  05LSO-0262              Effective Date:  1/1/2006

                                  Section 2:  2/25/2005

Enrolled Act No.:  HEA0074

 

Chapter No.:       119

 

Prime Sponsor:     Representative Pedersen

 

Catch Title:       Uniform Management of Public Employees Retirement Act.

 

Subject:  Provides for the adoption of the Uniform Management of Public Employees Retirement Act (MPERS).

 

Summary/Major Elements:

 

·        Provides extensive provisions for the Uniform Management of Public Employees Retirement Act (MPERS).

 

·        MPES is a model/uniform act that governs the management of retirement systems.

 

·        Act will apply to all public employee retirement systems in the state (state, county, municipal and peace officer/firefighters, etc.).

 

·        Provides that all assets of a retirement system are held in trust.  Provides powers of the trustee (person who manages the retirement system).

 

·        Requires an annual disclosure/report of financial and actuarial status of the retirement system.

 

·        Report required – requires the Wyoming retirement system to review the provisions of the MPERS, review the current law and report to the joint appropriations interim committee on the results of the review on or before October 1, 2005.

 

·        Delayed effective date – following review by the Wyoming retirement system, the MPERS act is effective July 1, 2006.