reglab/housing_qa huggingface dataset:
WY Stat § 9-3-440 (2021)
2021 Wyoming Statutes|Title 9 - Administration of the Government|Chapter 3 - Compensation and Benefits|Article 4 - Retirement|Section 9-3-440 - Duties of Trustee in Investing and Managing Assets of Retirement System.

9-3-440. Duties of trustee in investing and managing assets of retirement system.| (a) In investing and managing assets of a retirement system pursuant to W.S. 9-3-439, a trustee with authority to invest and manage assets:  (i) Shall consider among other circumstances:  (A) General economic conditions;  (B) The possible effect of inflation or deflation;  (C) The role that each investment or course of action plays within the overall portfolio of the retirement program or appropriate grouping of programs;  (D) The expected total return from income and the appreciation of capital;  (E) Needs for liquidity, regularity of income and preservation or appreciation of capital; and  (F) For defined benefit plans, the adequacy of funding for the plan based on reasonable actuarial factors.  (ii) Shall diversify the investments of each retirement program or appropriate grouping of programs unless the trustee reasonably determines that, because of special circumstances, it is clearly prudent not to do so;  (iii) Shall make a reasonable effort to verify facts relevant to the investment and management of assets of a retirement system;  (iv) May invest in any kind of property or type of investment consistent with this act; and  (v) May consider benefits created by an investment in addition to investment return only if the trustee determines that the investment providing these collateral benefits would be prudent even without the collateral benefits.  (b) A trustee with authority to invest and manage assets of a retirement system shall adopt a statement of investment objectives and policies for each retirement program or appropriate grouping of programs. The statement shall include the desired rate of return on assets overall, the desired rates of return and acceptable levels of risk for each asset class, asset-allocation goals, guidelines for the delegation of authority and information on the types of reports to be used to evaluate investment performance. At least annually, the trustee shall review the statement and change or reaffirm it.
WY Stat § 9-3-441 (2021)
2021 Wyoming Statutes|Title 9 - Administration of the Government|Chapter 3 - Compensation and Benefits|Article 4 - Retirement|Section 9-3-441 - Special Application of Duties.

9-3-441. Special application of duties.| (a) A trustee may return a contribution to a public employer or employee, or make alternative arrangements for reimbursement, if the trustee determines the contribution was made because of a mistake of fact or law.  (b) Upon termination of a retirement program, a trustee may return to a public employer any assets of the program remaining after all liabilities of the program to participants and beneficiaries have been satisfied.  (c) If a retirement program provides for individual accounts and permits a participant or beneficiary to exercise control over the assets in such an account and a participant or beneficiary exercises control over those assets:  (i) The participant or beneficiary is not a fiduciary by reason of the exercise of control; and  (ii) A person who is otherwise a fiduciary is not liable for any loss, or by reason of any breach of fiduciary duty, resulting from the participant's or beneficiary's exercise of control.  (d) If an insurer issues to a retirement system a contract or policy that is supported by the insurer's general account, but is not a guaranteed benefit policy, the insurer complies with W.S. 9-3-439 if it manages the assets of the general account with the care, skill and caution under the circumstances then prevailing which a prudent person acting in a like capacity and familiar with those matters would use in the conduct of an activity of like character and purpose, taking into account all obligations supported by the general account.
WY Stat § 9-3-442 (2021)
2021 Wyoming Statutes|Title 9 - Administration of the Government|Chapter 3 - Compensation and Benefits|Article 4 - Retirement|Section 9-3-442 - Reviewing Compliance.

9-3-442. Reviewing compliance.| (a) Compliance by a trustee or other fiduciary with W.S. 9-3-438 through 9-3-440 shall be determined in light of the facts and circumstances existing at the time of the trustee or fiduciary's decision or action and not by hindsight.  (b) A trustee's investment and management decisions shall be evaluated not in isolation but in the context of the trust portfolio as a whole and as a part of an overall investment strategy having risk and return objectives reasonably suited to the program or appropriate grouping of programs.
WY Stat § 9-3-443 (2021)
2021 Wyoming Statutes|Title 9 - Administration of the Government|Chapter 3 - Compensation and Benefits|Article 4 - Retirement|Section 9-3-443 - Liability of Trustee or Other Fiduciary.

9-3-443. Liability of trustee or other fiduciary.| (a) Except as provided in subsection (e) of this section, a trustee or other fiduciary who breaches a duty imposed by this act is personally liable to a retirement system for any losses resulting from the breach and any profits made by the trustee or other fiduciary through use of assets of the system by the trustee or other fiduciary. The trustee or other fiduciary is subject to other equitable remedies as the court considers appropriate, including removal.  (b) An agreement that purports to limit the liability of a trustee or other fiduciary for a breach of duty under this act is void.  (c) A retirement system may insure itself against liability or losses occurring because of a breach of duty under this act by a trustee or other fiduciary.  (d) A trustee or other fiduciary may insure against liability or losses occurring because of a breach of duty under this act if the insurance is purchased or provided either by the trustee or fiduciary personally or, on the trustee or fiduciary's behalf, by this state, the retirement system, a public employer whose employees participate in a retirement program served by the trustee or fiduciary, an employee representative whose members participate in a retirement program served by the trustee or fiduciary or the trustee or fiduciary's employer.  (e) Notwithstanding subsection (a) of this section and as provided in the Wyoming Governmental Claims Act, individual board members of a retirement system are immune from liability while acting within the scope of administering and operating a retirement system and are not personally liable for breaches of fiduciary duties in carrying out system administration and operation except in cases of willful misconduct, intentional torts or illegal acts.
WY Stat § 9-3-444 (2021)
2021 Wyoming Statutes|Title 9 - Administration of the Government|Chapter 3 - Compensation and Benefits|Article 4 - Retirement|Section 9-3-444 - Open Meetings and Records.

9-3-444. Open meetings and records.| (a) A multimember body having authority to invest or manage assets of a retirement system may deliberate about, or make tentative or final decisions on, investments or other financial matters in executive session if disclosure of the deliberations or decisions would jeopardize the ability to implement a decision or to achieve investment objectives.  (b) A record of a retirement system that discloses deliberations about, or a tentative or final decision on, investments or other financial matters is not a public record under the Wyoming Public Records Act, W.S. 16-4-201 through 16-4-205 to the extent and so long as its disclosure would jeopardize the ability to implement an investment decision or program or to achieve investment objectives.
WY Stat § 9-3-445 (2021)
2021 Wyoming Statutes|Title 9 - Administration of the Government|Chapter 3 - Compensation and Benefits|Article 4 - Retirement|Section 9-3-445 - Disclosure to Public.

9-3-445. Disclosure to public.| (a) An administrator of a retirement system shall prepare and disseminate:  (i) A summary plan description of each retirement program;  (ii) A summary description of any material modification in the terms of the program and any material change in the information required to be contained in the summary plan description, to the extent the modification or change has not been integrated into an updated summary plan description;  (iii) An annual disclosure of financial and actuarial status; and  (iv) An annual report.  (b) An administrator shall make available for public examination in the principal office of the administrator and in other places if necessary to make the information reasonably available to participants:  (i) The governing law of the retirement program and system;  (ii) The most recent summary plan description;  (iii) Summary descriptions of modifications or changes described in paragraph (a)(ii) of this section that have been provided to participants and beneficiaries but not yet integrated into the summary plan description;  (iv) The most recent annual disclosure of financial and actuarial status; and  (v) the most recent annual report.  (c) Upon written request by a participant, beneficiary or member of the public, the administrator shall provide a copy of any publication described in subsection (b) of this section. Except as otherwise provided in W.S. 9-3-446(a), the administrator may charge a reasonable fee to cover the cost of providing copies and shall provide the copies within thirty (30) days after receiving payment.
WY Stat § 9-3-446 (2021)
2021 Wyoming Statutes|Title 9 - Administration of the Government|Chapter 3 - Compensation and Benefits|Article 4 - Retirement|Section 9-3-446 - Disclosure to Participants and Beneficiaries.

9-3-446. Disclosure to participants and beneficiaries.| (a) An administrator shall furnish to each participant and to each beneficiary who is receiving benefits under a retirement program:  (i) A copy of the most recent summary plan description, along with any summary descriptions of modifications or changes described in W.S. 9-3-445(a)(ii), within three (3) months after a person becomes a participant or, in the case of a beneficiary, within three (3) months after a person first receives benefits, or, if later, within four (4) months after the retirement program becomes subject to this act;  (ii) The summary description of any modifications or changes described in W.S. 9-3-445(a)(ii), within seven (7) months after the end of the fiscal year in which a modification or change has been made;  (iii) A copy of an updated summary plan description that integrates all modifications and changes at intervals not exceeding five (5) years; and  (iv) The annual report within seven (7) months after the end of each fiscal year.  (b) An administrator shall provide to a participant or beneficiary a statement containing information that would permit the participant or beneficiary to estimate projected benefits reasonably, to the extent the information is regularly maintained by the retirement system. The information shall be provided with the annual report or upon written request of the participant or beneficiary. The information need not be provided to a participant or beneficiary who is currently receiving benefits.  (c) A participant who is not currently receiving benefits is entitled without charge to one (1) statement under subsection (b) of this section during any fiscal year. The administrator may charge a reasonable fee to cover the cost of providing other statements. The administrator shall provide the statements within thirty (30) days after the participant or beneficiary's request or, if a fee is charged, within thirty (30) days after receiving payment.
WY Stat § 9-3-447 (2021)
2021 Wyoming Statutes|Title 9 - Administration of the Government|Chapter 3 - Compensation and Benefits|Article 4 - Retirement|Section 9-3-447 - Reports to Agency.

9-3-447. Reports to agency.| (a) An administrator shall file with the retirement system a copy of:  (i) The governing law of the retirement program and system within four (4) months after the system becomes subject to this act and an updated copy at least once every year thereafter;  (ii) The summary plan description within four (4) months after the system becomes subject to this act and of updated summary plan descriptions at the same time they are first furnished to any participant or beneficiary under W.S. 9-3-446(a)(iii);  (iii) Any summary description of modifications or changes within seven (7) months after the end of the fiscal year in which a modification or change has been made; and  (iv) The annual disclosure of financial and actuarial status and annual report within seven (7) months after the end of each fiscal year.
WY Stat § 9-3-448 (2021)
2021 Wyoming Statutes|Title 9 - Administration of the Government|Chapter 3 - Compensation and Benefits|Article 4 - Retirement|Section 9-3-448 - Summary Plan Description.

9-3-448. Summary plan description.| (a) A summary plan description and a summary description of modifications or changes under W.S. 9-3-445(a)(ii) shall be written in a manner calculated to be understood by the average participant and be accurate and sufficiently comprehensive reasonably to inform the participants and beneficiaries of their rights and obligations under the retirement program.  (b) A summary plan description shall contain:  (i) The name of the retirement program and system and type of administration;  (ii) The name and business address of the administrator;  (iii) The name and business address of each agent for service of process;  (iv) Citations to the governing law of the retirement program and system;  (v) A description of the program's requirements respecting eligibility for participation and benefits;  (vi) A description of the program's provisions providing for nonforfeitable benefits;  (vii) A description of circumstances that may result in disqualification, ineligibility or denial or loss of benefits;  (viii) A description of the benefits provided by the program, including the manner of calculating benefits and any benefits provided for spouses and survivors;  (ix) The source of financing of the program;  (x) The identity of any organization through which benefits are provided;  (xi) The date the fiscal year ends;  (xii) The procedures to claim benefits under the program and the administrative procedures available under the program for the redress of claims that are denied in whole or in part; and  (xiii) Notice of the availability of additional information pursuant to W.S. 9-3-445(b) and (c), 9-3-446(b) and (c) and 9-3-447.
WY Stat § 9-3-450 (2021)
2021 Wyoming Statutes|Title 9 - Administration of the Government|Chapter 3 - Compensation and Benefits|Article 4 - Retirement|Section 9-3-450 - Annual Report.

9-3-450. Annual report.| (a) An annual report shall contain:  (i) The name and business address of each trustee and each member of a trustee board;  (ii) The financial statements, but not the notes, required by W.S. 9-3-449(a)(viii);  (iii) For defined benefit plans, the actuarial schedules, but not the notes, required by W.S. 9-3-449(a)(x);  (iv) The schedules described in W.S. 9-3-449(a)(xiv) and (xv);  (v) A brief description of and information about how to interpret the statements and schedules;  (vi) Other material necessary to summarize fairly and accurately the annual disclosure of financial and actuarial status; and  (vii) Notice of the availability of additional information pursuant to W.S. 9-3-445(b) and (c), 9-3-446(b) and (c) and 9-3-447.
WY Stat § 9-3-451 (2021)
2021 Wyoming Statutes|Title 9 - Administration of the Government|Chapter 3 - Compensation and Benefits|Article 4 - Retirement|Section 9-3-451 - Enforcement.

9-3-451. Enforcement.| (a) An action may be maintained by:  (i) A public employer, participant, beneficiary or fiduciary for any one (1) or more of the following purposes:  (A) To enjoin an act, practice or omission that violates this act;  (B) For appropriate equitable relief for a breach of trust under W.S. 9-3-443;  (C) For other appropriate equitable relief to redress the violation of or to enforce this act; or  (ii) The retirement system to enjoin any violation of W.S. 9-3-447.  (b) In an action under this section by a participant, beneficiary or fiduciary, the court may award reasonable attorney fees and costs to either party.
WY Stat § 9-3-452 (2021)
2021 Wyoming Statutes|Title 9 - Administration of the Government|Chapter 3 - Compensation and Benefits|Article 4 - Retirement|Section 9-3-452 - Alienation of Benefits.

9-3-452. Alienation of benefits.| Benefits of a retirement program may not be assigned or alienated and shall be exempt from claims of creditors, except as otherwise provided by state law.
WY Stat § 9-3-454 (2021)
2021 Wyoming Statutes|Title 9 - Administration of the Government|Chapter 3 - Compensation and Benefits|Article 4 - Retirement|Section 9-3-454 - Required Determinations for Recommended Benefit Increases.

9-3-454. Required determinations for recommended benefit increases.| (a) In accordance with the findings specified in W.S. 9-3-453:  (i) All plans shall be managed to maintain their actuarial funded ratio at or above one hundred percent (100%) throughout the life of the plan. The actual funded ratio recommended by the board shall provide for an appropriate margin above this funding ratio to allow for market fluctuations above the one hundred percent (100%) base;  (ii) No benefit changes, including cost-of-living increases and changes to multipliers, shall be recommended for implementation by the legislature unless the system s actuaries provide an opinion that the funded ratio of the plan will remain above the funding level set out in paragraph (i) of this subsection throughout the life of the benefit change;  (iii) Any analysis upon which a proposed benefit change is proposed shall include a decision matrix which shall include the following minimum elements:  (A) Consideration of the current actuarial value in relation to current market value of assets;  (B) A fully amortized cost over the full applicable term of the benefit increase;  (C) Current and expected actuarial funded ratios with and without the increase;  (D) A review of assumptions made in determining funded ratios and a review of anticipated funded ratios with differing investment return assumptions;  (E) Recognition of potential effects of the increase on plan participants' working and retirement periods;  (F) The potential isolation, by establishment of separate accounts, of the liability incurred as a result of the cost of living or other benefit increase;  (G) The appropriate level of actuarial funding ratio above one hundred percent (100%) needed to buffer the plan from market fluctuations.  (b) Nothing in this section shall affect the authority of the board to grant a cost-of-living adjustment as authorized by W.S. 15-5-204.
WY Stat § 9-3-501 (2021)
2021 Wyoming Statutes|Title 9 - Administration of the Government|Chapter 3 - Compensation and Benefits|Article 5 - Deferred Compensation Program|Section 9-3-501 - Definitions.

9-3-501. Definitions.| (a) As used in this article:  (i) Repealed By Laws 2001, Ch. 64, § 2.  (ii) "Board" means the Wyoming retirement board established under W.S. 9-3-404(a);  (iii) "Employee" means any person including any elected official employed by and receiving compensation from the state of Wyoming or a county, city, town or other political subdivision, but does not include any at-will contract employee under W.S. 9-2-3207(a)(xi)(F);  (iv) "Plan document" means the official document recorded with the secretary of state and adopting and establishing a deferred compensation program for Wyoming under Public Law 95-600;  (v) "Program" means the Wyoming deferred compensation program established in accordance with the plan document;  (vi) Repealed by Laws 2015, ch. 10, § 2.  (vii) "Provider" means any corporation licensed to do business in this state and providing investment products to program participants under contract and in accordance with this article;  (viii) Repealed by Laws 2019, ch. 186, § 2.
WY Stat § 9-3-502 (2021)
2021 Wyoming Statutes|Title 9 - Administration of the Government|Chapter 3 - Compensation and Benefits|Article 5 - Deferred Compensation Program|Section 9-3-502 - Establishment of Program by State; Administration by Wyoming Retirement Board; Establishment of Separate Deferred Compensation by Political Subdivisions; Investment Permitted; Limitation on Amount Deferred; Taxability.

9-3-502. Establishment of program by state; administration by Wyoming retirement board; establishment of separate deferred compensation by political subdivisions; investment permitted; limitation on amount deferred; taxability.| (a) The board shall establish and administer the program for employees in addition to any retirement, pension, benefit or other deferred compensation programs established by the governmental entity. Subject to requirements of this article, any county, city, town or other political subdivision may establish and administer a deferred compensation program separate from the program established under this article. A county, city, town or other political subdivision which wishes to enter into the state program established under this article shall adopt the plan document, provide the program to employees in accordance with this article and be subject to program administration by the board. A county, city, town, other political subdivision of the state or an entity or institution of the state which does not utilize the state auditor's office for payroll services may provide for automatic enrollment of new employees into the state program pursuant to W.S. 9-3-509 and pursuant to the requirements of this subsection.  (b) Any employee may enter into a written agreement with the program or a separate deferred compensation program established by a county, city, town or other political subdivision to defer any part of his compensation for investment as provided by this article or an employee may be automatically enrolled as provided in W.S. 9-3-509 and subsection (a) of this section. The total annual amount deferred may at no time exceed the employee's annual salary under applicable salary schedules or compensation plans.  (c) Compensation deferred pursuant to this article shall be included as compensation for the purpose of computing retirement or pension benefits earned by the employee, but the deferred compensation is exempt from state taxation to the same extent as it is exempt from federal income taxes.