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Committee adds Wyoming retirement review after testimony calling for postretirement COLA
Summary
Committee members and retirement advocates urged a review of the Wyoming retirement system, citing long gaps in postretirement adjustments and recent funding milestones that may allow limited postretirement increases. Witnesses asked the committee to study COLA options and actuarial soundness.
The Joint Appropriations Committee added a review of the Wyoming retirement system (WRS) to its interim agenda after testimony from retirement‑advocacy groups and committee members who said retirees have gone without postretirement adjustments for nearly two decades.
Why it matters: Committee members said the retirement topic touches 30,000–35,000 current and retired public employees; witnesses noted several retirement plans recently reached or are nearing 100% funded status, which could make limited postretirement adjustments feasible.
Representative Sherwood said the subject affects “30, 35,000 of our constituents” and urged a deep dive into investment returns, COLA options and how investment income is being used. Kevin Ready, president of the Federated Firefighters of Wyoming, said the last postretirement cost‑of‑living adjustment occurred in 2008 and retirees have gone roughly 20 years without a postretirement COLA.
Ron Sniffen, executive director of the Wyoming Coalition for a Healthy Retirement, told the committee his organization represents retirees and employees across public service and urged the committee to examine parameters for postretirement benefits without endangering plan funding.
What the committee decided: Members included the retirement system review among the prioritized interim topics and asked staff to supply actuarial data and policy options. Chairs and witnesses emphasized caution—advocates asked for benefits for long‑serving retirees; members asked for information about plan funding and legal constraints.
What’s next: Staff will compile actuarial reports and plan‑by‑plan funding details for committee review during the interim; the committee discussed scheduling multi‑hour sessions to allow thorough consideration of COLA and benefit parameters.
