Wyoming Senate passes early retirement bill for state employees

[TexasTowelie]

CHEYENNE – A few hundred state employees could be eligible for early retirement under a bill passed out of the Senate on Tuesday.

Senate File 95 establishes criteria under which those employees could obtain early retirement and steps the executive branch would need to take during that process.

The lead sponsor of the legislation, Sen. Curt Meier, R-LaGrange, said the current bill as written would effect about 200 employees if the bill’s provisions are fully implemented.

Originally, Meier’s bill created a much broader early retirement initiative, and a fiscal note attached to the bill stated the legislation could have given the early retirement option to more than 1,700 employees, plus another 228 at the University of Wyoming.

Read more: http://www.wyomingnews.com/news/wyoming-senate-passes-early-retirement-bill-for-state-employees/article_1999e54a-edce-11e6-ba45-0f2baed78f5d.html

[PoindexterOglethorpe]

1. That's nice, but are they fully funding the pensions?

So many pensions are desperately underfunded, both private and municipal.

What's so sad about this is that many people did exactly what they were supposed to: worked in the same job for twenty or thirty years, lived modestly, and expected that they'd have a decent retirement. Suddenly, WHAM! Oh, by the way, there's not enough money to pay your full pension, I'm sure you'll be just fine of half or less of what you'd expected.

[kimbutgar]

2. You early retire and then the next legislative session they eliminate pensions because

Of higher unfunded financial responsibilities to Wall Street bond holders.