§ 9-3-432 — 9-3-431. Firefighter members; contributions; benefit eligibility; service and disability retirement benefits; termination of benefits upon failure to make timely contribution payments

Wyoming § 9-3-432

• Jurisdiction: Wyoming
• Title 09: Administration of the Government
• Ch. 3: COMPENSATION AND BENEFITS
• Art. 4: RETIREMENT

Text

(a) In addition to contributions paid under W.S. 9-3-412
and 9-3-413, each firefighter member shall pay into the account
nine and sixty-five hundredths percent (9.65%) of his salary to
qualify for benefits under this section. The employer of the
firefighter member may pay any or all of the employee
contributions imposed under this subsection. The board may
increase the contribution percentage required under this
subsection by not more than one percent (1%), as necessary to
maintain the actuarial integrity of the account as affected by
benefits payable under this section. Payments under this
subsection shall be made monthly to the account in accordance
with W.S. 9-3-412 and 9-3-413.
(b) Normal retirement benefits are payable under this
section to any firefighter member who:
(i) Has at least four (4) years of service credit as
a firefighter member and is at least sixty (60) years of age;
(ii) Has at least twenty-five (25) years of service
credit as a firefighter member and is at least fifty (50) years
of age; or
(iii) Is at least fifty-five (55) years of age and
has a combined total years of age and years of service credit as
a firefighter member which equals not less than seventy-five
(75).
(c) Early retirement benefits are payable under this
section to any firefighter member who:
(i) Has at least four (4) but less than twenty-five
(25) years of service credit as a firefighter member and is at
least fifty (50) but less than sixty (60) years of age; or
(ii) Is less than fifty (50) years of age and has at
least twenty-five (25) years of service credit as a firefighter
member.
(d) The early retirement benefit amount payable under
subsection (c) of this section is equal to the normal retirement
benefit amount payable under subsection (b) of this section
reduced to an actuarial equivalent amount as prescribed by rule
and regulation of the board.
(e) The normal benefit for a firefighter member under this
section is equal to two and one-half percent (2 ½%) of the
highest average salary, as defined by W.S. 9-3-402(a)(xix)(A),
multiplied by the member's years of service credit as a
firefighter member.
(f) Upon retirement for a partial or total disability as
determined and for which the member otherwise qualifies under
W.S. 9-3-422, a firefighter member shall receive a monthly
disability retirement benefit for the period of qualified
disability equal to sixty-five percent (65%) of his salary at
the time the disability was incurred. Disability benefits are
payable under this subsection for the life of the firefighter
member or until the firefighter member is no longer disabled.
The firefighter member is subject to reporting, evaluation and
excess earnings deduction requirements imposed under W.S.