As state lawmakers gear up for what is sure to be another busy budget session in early 2012, the issue of the Wyoming State Retirement system continues to be addressed by the Joint Appropriations Committee. State Representative and Joint Appropriations Committee Chair Rosie Berger says that the problem is with the cost of living adjustment to the system that was approved a number of years ago.
Berger explains that recent action taken by the JAC stipulates that until the State's Retirement system reaches 100 percent, there will not be a discussion on a COLA on that plan.
Berger said that they will continue to look at other ways that some type of COLA can be implemented such as a defined contribution. Berger also stated that since there will be a large number of people exiting the Retirement System over the next five years, that they want to have a strong system in place to attract younger people to the state job pool.