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Wyoming retirees propose profit-sharing plan to fund modest postretirement increases
Summary
A coalition representing state retirees urged the Joint Appropriations Committee to consider a profit-sharing approach that would pay modest postretirement increases when investment returns exceed assumptions, with safeguards to protect pension funding.
A coalition of retired public employees and their advocates told the Wyoming Joint Appropriations Committee that retirees need relief after 18 years without a cost-of-living adjustment.
John Emerick, a 35-year retiree from the Wyoming Game and Fish Department, told the committee that the average retiree pension is about $22,000 a year and that inflation has sharply eroded purchasing power. "With the erosion of inflation over the last 18 years, it's pretty tough for people to... have a real comfortable life at all," Emerick said.
Kevin Reddy, president of the Federated Firefighters of Wyoming and chair of the Wyoming Coalition for a Healthy Retirement, offered a detailed…
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