(a)The normal retirement benefit for a member who first
becomes covered under this article after June 30, 1981 and
before September 1, 2012 is equal to two and one-eighth percent
(2 1/8%) of the highest average salary multiplied by his years
of service credit for the first fifteen (15) years of service
credit, and two and one-fourth percent (2 1/4%) of the highest
average salary multiplied by his years of service credit for any
years of service credit exceeding fifteen (15) years.
(b)The retirement benefit for a member with service after
March 31, 1953 but prior to July 1, 1981 is equal to the
following:
(i)Repealed by Laws 1994, ch. 67, § 3.
(ii)A monthly benefit amount based on the actuarial
equivalent of double the member's account with any applicable
increase under W.S. 9-3-419; or
Free access — add to your briefcase to read the full text and ask questions with AI
(a) The normal retirement benefit for a member who first
becomes covered under this article after June 30, 1981 and
before September 1, 2012 is equal to two and one-eighth percent
(2 1/8%) of the highest average salary multiplied by his years
of service credit for the first fifteen (15) years of service
credit, and two and one-fourth percent (2 1/4%) of the highest
average salary multiplied by his years of service credit for any
years of service credit exceeding fifteen (15) years.
(b) The retirement benefit for a member with service after
March 31, 1953 but prior to July 1, 1981 is equal to the
following:
(i) Repealed by Laws 1994, ch. 67, § 3.
(ii) A monthly benefit amount based on the actuarial
equivalent of double the member's account with any applicable
increase under W.S. 9-3-419; or
(iii) Two and one-eighth percent (2 1/8%) of the
member's highest average salary multiplied by his years of
service credit for the first fifteen (15) years of service
credit, and two and one-fourth percent (2 1/4%) of the member's
highest average salary multiplied by his years of service credit
for any years of service credit exceeding fifteen (15) years.
(c) Repealed by Laws 1994, ch. 67, § 3.
(d) Repealed by Laws 1994, ch. 67, § 3.
(e) This section does not apply to any firefighter member
covered and vested under W.S. 9-3-431 or any law enforcement
member covered and vested under W.S. 9-3-432.
(f) Benefits shall not be payable under the system to the
extent that they exceed the limitations imposed by section
415(b) of the United States Internal Revenue Code. The board
shall provide any benefits in excess of the limitations under
special pay plans authorized under W.S. 9-3-405(b) to the extent
the benefits can be provided and the system retain qualified
plan status under the Internal Revenue Code.
(g) The normal retirement benefit for a member initially
employed after August 31, 2012 is equal to two percent (2%) of
the highest average salary multiplied by his years of service
credit.