(a)Except as provided in subsections (b), (c) and (d) of
this section, the governing body of any lawfully established
community college or of the University of Wyoming may establish
and administer a retirement plan for the benefit of certain
employees of its institution by the use of a portion of the
employer and employee contributions required under the
provisions of the Wyoming Retirement Act.
(b)Except for participation on and after January 1, 1994,
pursuant to subsection (d) of this section, any employee who is
initially employed by an institution after June 30, 1985, shall
elect to participate in either the institution's retirement plan
or the Wyoming retirement system but shall not participate in
any manner in both retirement plans.
(c)Prior to January 1, 1994, any employee partic
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(a) Except as provided in subsections (b), (c) and (d) of
this section, the governing body of any lawfully established
community college or of the University of Wyoming may establish
and administer a retirement plan for the benefit of certain
employees of its institution by the use of a portion of the
employer and employee contributions required under the
provisions of the Wyoming Retirement Act.
(b) Except for participation on and after January 1, 1994,
pursuant to subsection (d) of this section, any employee who is
initially employed by an institution after June 30, 1985, shall
elect to participate in either the institution's retirement plan
or the Wyoming retirement system but shall not participate in
any manner in both retirement plans.
(c) Prior to January 1, 1994, any employee participating
in a retirement plan pursuant to this chapter but who is not a
member of the Wyoming retirement system, by written notice to
his employer, may elect to discontinue participation under the
institution's plan and become a member of the Wyoming retirement
system, or if an employee is participating in the Wyoming
retirement system as a limited member, he may elect to transfer
his limited contributions and matching employer contributions,
plus regular interest, from the Wyoming retirement system to one
(1) of the plans authorized by this section.
(d) Prior to January 1, 1994, any employee of an
institution shall elect to participate in either the retirement
plan offered by the employing institution or the Wyoming
retirement system. Each employee shall prior to January 1, 1994,
provide written notice to the employing institution and the
Wyoming retirement board of his election under this subsection.
If an employee fails to notify the employing institution which
retirement plan he selects, the institution shall notify the
retirement board of this omission and the retirement board shall
serve notice on the employee by registered mail return receipt
requested that participation in the retirement system shall be
cancelled effective January 1, 1994. All retirement
contributions made on and after January 1, 1994 by any employee,
together with matching employer contributions on his behalf,
shall be made to the elected plan. An election pursuant to this
subsection is irrevocable during the remainder of an employee's
working career as a public employee.