Wyoming 2025 Regular Session

Wyoming Senate Bill SF0038 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1		-	ORIGINAL SENATE
2		-	FILE NO. SF0038
3		-	ENROLLED ACT NO. 79, SENATE
4		-	SIXTY-EIGHTH LEGISLATURE OF THE STATE OF WYOMING
5		-	2025 GENERAL SESSION
	1	+	2025
	2	+	STATE OF WYOMING
	3	+	25LSO-03891SF0038
	4	+	SENATE FILE NO. SF0038
	5	+	Performance compensation-investment performance amendment.
	6	+	Sponsored by: Joint Appropriations Committee
	7	+	A BILL
	8	+	for
	9	+	1 AN ACT relating to the administration of the government;
	10	+	2 amending the calculation of investment performance for
	11	+	3 purposes of performance compensation for investment staff;
	12	+	4 making conforming amendments; and providing for an
	13	+	5 effective date.
	14	+	6
	15	+	7
	16	+	8
	17	+	9. W.S. 9-1-409(e)(vi)(C) and by creating a
	18	+	10 new subparagraph (D) and 9-3-406(a)(vi)(C) and by creating
	19	+	11 a new subparagraph (D) are amended to read:
	20	+	12
	21	+	13
	22	+	14
	23	+	15 2025STATE OF WYOMING25LSO-03892SF00381 (e) The state treasurer may implement and administer
	24	+	2 a performance compensation plan in accordance with this
	25	+	3 subsection. The plan shall:
	26	+	4
	27	+	5 (vi) Provide that payments for investment
	28	+	6 performance for any one (1) investment period shall be as
	29	+	7 follows:
	30	+	8
	31	+	9 (C) For payments earned in fiscal year 2022
	32	+	10
	33	+	11 arithmetic average of the annual investment performance
	34	+	12 beginning that fiscal year and the two (2) immediately
	35	+	13 preceding fiscal years;.
	36	+	14
	37	+	15
	38	+	16
	39	+	17
	40	+	18
	41	+	19
	42	+	20
	43	+	21
	44	+	22
	45	+	23 2025STATE OF WYOMING25LSO-03893SF0038
6	46		1
7		-	AN ACT relating to the administration of the government;
8		-	amending the calculation of investment performance for
9		-	purposes of performance compensation for investment staff;
10		-	making conforming amendments; and providing for an
11		-	effective date.
12		-	Be It Enacted by the Legislature of the State of Wyoming:
13		-	Section 1. W.S. 9-1-409(e)(vi)(C) and by creating a
14		-	new subparagraph (D) and 9-3-406(a)(vi)(C) and by creating
15		-	a new subparagraph (D) are amended to read:
16		-	9-1-409. State treasurer; duties generally; demand
17		-	accounts; state revenues paid to treasurer.
18		-	(e) The state treasurer may implement and administer
19		-	a performance compensation plan in accordance with this
20		-	subsection. The plan shall:
21		-	(vi) Provide that payments for investment
22		-	performance for any one (1) investment period shall be as
23		-	follows:
24		-	(C) For payments earned in fiscal year 2022
25		-	and each - the
26		-	arithmetic average of the annual investment performance
27		-	beginning that fiscal year and the two (2) immediately
28		-	preceding fiscal years;.
29		-	(D) For payments earned in fiscal year 2026
30		-	and each fiscal year thereafter – the geometric average of
31		-	the annual investment performance beginning that fiscal
32		-	year and the two (2) immediately preceding fiscal years. ORIGINAL SENATE
33		-	FILE NO. SF0038
34		-	ENROLLED ACT NO. 79, SENATE
35		-	SIXTY-EIGHTH LEGISLATURE OF THE STATE OF WYOMING
36		-	2025 GENERAL SESSION
37		-	29-3-406. Retirement board; employment and
38		-	compensation of director, consulting actuary and
39		-	assistants; director designated secretary; compensation of
40		-	members; quorum; seal.
41		-	(a) The board shall employ a director and a
42		-	consulting actuary and other professional and clerical
43		-	assistants necessary for the administration of the
44		-	retirement system and the Wyoming deferred compensation
45		-	program established under W.S. 9-3-501 through 9-3-508. The
46		-	compensation of employees shall be fixed by the board,
47		-	subject to confirmation and approval by the human resources
48		-	division and together with all other necessary expenses of
49		-	the board shall be paid by vouchers drawn on the state
50		-	treasurer of Wyoming. The director shall also serve,
51		-	without additional compensation, as secretary of the board.
52		-	The board shall have the authority to obtain the financial
53		-	and criminal background history of an employee or
54		-	employment applicant of the Wyoming retirement system in
55		-	accordance with W.S. 7-19-106 and 7-19-201. In fixing
56		-	compensation of employees the board may implement and
57		-	administer a performance compensation plan in accordance
58		-	with this subsection. The plan shall:
59		-	(vi) Provide that payments for investment
60		-	performance for any one (1) investment period shall be as
61		-	follows:
62		-	(C) For payments earned in fiscal year 2022
63		-	and each fiscal year - the
64		-	arithmetic average of the annual investment performance
65		-	beginning that fiscal year and the two (2) immediately
66		-	preceding fiscal years;. ORIGINAL SENATE
67		-	FILE NO. SF0038
68		-	ENROLLED ACT NO. 79, SENATE
69		-	SIXTY-EIGHTH LEGISLATURE OF THE STATE OF WYOMING
70		-	2025 GENERAL SESSION
71		-	3 (D) For payments earned in fiscal year 2026
72		-	and each fiscal year thereafter – the geometric average of
73		-	the annual investment performance beginning that fiscal
74		-	year and the two (2) immediately preceding fiscal years.
75		-	Section 2. This act is effective July 1, 2025.
76		-	(END)
77		-	Speaker of the HousePresident of the SenateGovernorTIME APPROVED: _________DATE APPROVED: _________
78		-	I hereby certify that this act originated in the Senate.
79		-	Chief Clerk
	47	+	2 (a) The board shall employ a director and a
	48	+	3 consulting actuary and other professional and clerical
	49	+	4 assistants necessary for the administration of the
	50	+	5 retirement system and the Wyoming deferred compensation
	51	+	6 program established under W.S. 9-3-501 through 9-3-508. The
	52	+	7 compensation of employees shall be fixed by the board,
	53	+	8 subject to confirmation and approval by the human resources
	54	+	9 division and together with all other necessary expenses of
	55	+	10 the board shall be paid by vouchers drawn on the state
	56	+	11 treasurer of Wyoming. The director shall also serve,
	57	+	12 without additional compensation, as secretary of the board.
	58	+	13 The board shall have the authority to obtain the financial
	59	+	14 and criminal background history of an employee or
	60	+	15 employment applicant of the Wyoming retirement system in
	61	+	16 accordance with W.S. 7-19-106 and 7-19-201. In fixing
	62	+	17 compensation of employees the board may implement and
	63	+	18 administer a performance compensation plan in accordance
	64	+	19 with this subsection. The plan shall:
	65	+	20
	66	+	21 (vi) Provide that payments for investment
	67	+	22 performance for any one (1) investment period shall be as
	68	+	23 follows: 2025STATE OF WYOMING25LSO-03894SF00381
	69	+	2 (C) For payments earned in fiscal year 2022
	70	+	3 fiscal year - the
	71	+	4 arithmetic average of the annual investment performance
	72	+	5 beginning that fiscal year and the two (2) immediately
	73	+	6 preceding fiscal years;.
	74	+	7
	75	+	8
	76	+	9
	77	+	10
	78	+	11
	79	+	12
	80	+	13. This act is effective July 1, 2025
	81	+	14
	82	+	15 (END)