Wyo. Legislators To Study Pension Changes
CHEYENNE, Wyo. (AP) — Wyoming legislators will consider further changes to state pension programs ahead of next year’s legislative session.
The Wyoming Tribune-Eagle reports (http://bit.ly/Jq5GKj) that the Legislature passed multiple laws this year that blocked cost-of-living adjustments for most retirees and modified benefits for new employees.
The changes came as officials warned that the state retirement system soon could be underfunded without such steps.
Some lawmakers including Rep. Bryan Pedersen, R-Cheyenne, say they didn’t go far enough. Pedersen is a member of the Legislature’s Joint Appropriations Committee. The committee plans to study the issue further ahead of the 2013 legislative session.
Wyoming’s pension plan is ranked among the most stable in the U.S. Pedersen says the program could be considered underfunded between 2015 and 2025 if Wyoming doesn’t meet its projected investment returns.