Bill No.: HB0099 Drafter: JHR

LSO No.: 06LSO-0372 Effective Date: 7/1/2006

Enrolled Act No.: HEA0032

Chapter No.: 50

Prime Sponsor: Representative Landon

Catch Title: Firemen's retirement system-adjustment.

Subject: Amends the adjustment factor for determining firemen's pension benefits.

Summary/Major Elements:

· Under current law, firemen's pension benefits are adjusted in accordance with changes in the consumer price index, but not below the original pension amount nor more than 5% per year, uncompounded.

· This bill amends the adjustment factor in accordance with changes in the Wyoming cost of living index as determined by the Division of Economic Analysis, Department of Administration and Information, as determined by the Retirement Board to be actuarially sound, but shall not exceed 3% in any one year. Any percentage adjustment that exceeds 3% shall be accumulated and added to future years' percentage increases in the cost of living.