Retirement System Bill Failure Allowed Look at System

(WY News Service) -- Though a bill to switch the state retirement system from defined contribution to a 401K-type plan failed to receive two thirds vote this week, it did allow for a healthy review of the system.

Wyoming Retirement System Board Director Steve Sommers says there is good news; the system is funded at 85 percent.

Sommers says that there's still some work to be done to make sure the system stays healthy.

As expected, there was simply not enough time to give such a large bill the review it would need in order to move forward.

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