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Wyoming Statutes Title 35. Public Health and Safety § 35-9-618. Annual audit; state's liability

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) The director of the Wyoming retirement system shall hire an independent audit firm to perform an annual audit of the account established under W.S. 35-9-617 and shall report audit findings to the board and the governor.

(b) Nothing in this article shall be construed to:

(i) Except for obligations transferred pursuant to W.S. 35-9-617(c), acknowledge any past, present or future liability of or obligate the state of Wyoming for contribution except the employer's contributions provided for in this article, to either the volunteer firefighter, EMT and search and rescue pension system provided by this article or any other retirement system previously existing in the state of Wyoming; or

(ii) Constitute a contract or binding obligation of any kind whatsoever or, except as provided in subsection (c) of this section, to create or grant any vested right or interest in any individual, corporation or body politic.

(c) If the account is terminated, all affected members have a nonforfeitable interest in their benefits that were accrued and funded to date. The value of the accrued benefits to be credited to the account of each affected member shall be calculated as of the date of termination.

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Cite this article: FindLaw.com - Wyoming Statutes Title 35. Public Health and Safety § 35-9-618. Annual audit; state's liability - last updated January 01, 2024 | https://codes.findlaw.com/wy/title-35-public-health-and-safety/wy-st-sect-35-9-618/

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