Section 15-5-417 – Application of Benefits.
15-5-417. Application of benefits. (a) A service pension, disability pension, survivor’s pension, death benefit or withdrawal benefit shall be paid only upon the filing of an application in a form prescribed by the board. A monthly benefit shall not be payable for any month earlier than the second month preceding the date on which the […]
Section 15-5-418 – Election of Membership.
15-5-418. Election of membership. (a) A “paid fireman” as defined in W.S. 15-5-201(a)(xi) may elect to become a member, as defined in this article by filing an election with the board not later than December 31, 1981, or within thirty (30) days of return to service, if later, for any paid fireman who leaves service […]
Section 15-5-419 – Dual Membership Prohibited.
15-5-419. Dual membership prohibited. (a) Any employee hired before July 1, 1981 is covered by the pension system specified in W.S. 15-5-201 through 15-5-209 unless he elects to become a member pursuant to W.S. 15-5-418. Any employee hired on or subsequent to July 1, 1981 is covered by the pension system specified in this article. […]
Section 15-5-420 – Member Contributions.
15-5-420. Member contributions. (a) Each employer shall deduct monthly from the compensation of each member participating in the account a sum equal to nine and seven hundred forty-five thousandths percent (9.745%) for the period from July 1, 2019 through June 30, 2020, ten and two hundred forty-five thousandths percent (10.245%) for the period from July […]
Section 15-5-421 – Contribution by Employer.
15-5-421. Contribution by employer. Each employer shall make monthly contributions to the account in an amount equal to the percentage contribution rate multiplied by the salaries paid to members of the account. The contribution rate, expressed as a percentage, shall be based on the results of actuarial valuations made at least every three (3) years. […]
Section 15-5-422 – Payments; When and How Made; Protections; Nonassignability; Qualified Domestic Relations Order.
15-5-422. Payments; when and how made; protections; nonassignability; qualified domestic relations order. (a) Payments made under this article shall be made to the beneficiaries on or before the fifth day of each month. Payments shall be made by voucher drawn against the firemen’s pension account and paid by the state auditor out of the account […]
Section 15-5-411 – Amount of Disability Pension.
15-5-411. Amount of disability pension. (a) The disability pension shall be the greater of: (i) Fifty percent (50%) of final average compensation; or (ii) The service pension based on credited service accrued to the date of disability.
Section 15-5-412 – Amount of Survivor’s Pension.
15-5-412. Amount of survivor’s pension. (a) The monthly survivor’s pension payable to a member’s eligible primary survivor or, if there is no eligible surviving spouse, then to his eligible surviving dependents, shall be equal to the greater of: (i) Fifty percent (50%) of final average compensation; or (ii) The service pension based on credited service […]
Section 15-5-413 – Optional Forms of Benefits.
15-5-413. Optional forms of benefits. (a) Any member eligible for a service or disability pension may elect to receive one (1) of the following optional forms, in lieu of the pension computed in W.S. 15-5-409 through 15-5-411, which shall be the actuarial equivalent of the benefit to which he would otherwise be entitled: (i) A […]
Section 15-5-414 – Death Benefit.
15-5-414. Death benefit. Except as may otherwise be provided in any of the options under W.S. 15-5-413, upon the death of a member, inactive member, retired member or individual receiving a survivor’s pension, there shall be paid to the designated beneficiary or beneficiaries or, in the absence of a designated beneficiary, to the estate of […]