Wyoming Statutes
Article 4 - Retirement
Section 9-3-440 - Duties of Trustee in Investing and Managing Assets of Retirement System.

9-3-440. Duties of trustee in investing and managing assets of retirement system.
(a) In investing and managing assets of a retirement system pursuant to W.S. 9-3-439, a trustee with authority to invest and manage assets:
(i) Shall consider among other circumstances:
(A) General economic conditions;
(B) The possible effect of inflation or deflation;
(C) The role that each investment or course of action plays within the overall portfolio of the retirement program or appropriate grouping of programs;
(D) The expected total return from income and the appreciation of capital;
(E) Needs for liquidity, regularity of income and preservation or appreciation of capital; and
(F) For defined benefit plans, the adequacy of funding for the plan based on reasonable actuarial factors.
(ii) Shall diversify the investments of each retirement program or appropriate grouping of programs unless the trustee reasonably determines that, because of special circumstances, it is clearly prudent not to do so;
(iii) Shall make a reasonable effort to verify facts relevant to the investment and management of assets of a retirement system;
(iv) May invest in any kind of property or type of investment consistent with this act; and
(v) May consider benefits created by an investment in addition to investment return only if the trustee determines that the investment providing these collateral benefits would be prudent even without the collateral benefits.
(b) A trustee with authority to invest and manage assets of a retirement system shall adopt a statement of investment objectives and policies for each retirement program or appropriate grouping of programs. The statement shall include the desired rate of return on assets overall, the desired rates of return and acceptable levels of risk for each asset class, asset-allocation goals, guidelines for the delegation of authority and information on the types of reports to be used to evaluate investment performance. At least annually, the trustee shall review the statement and change or reaffirm it.

Structure Wyoming Statutes

Wyoming Statutes

Title 9 - Administration of the Government

Chapter 3 - Compensation and Benefits

Article 4 - Retirement

Section 9-3-401 - Short Title.

Section 9-3-402 - Definitions.

Section 9-3-403 - Wyoming Retirement System; Establishment; Purpose; Powers as Body Corporate.

Section 9-3-404 - Wyoming Retirement Board; Responsibility for Administration of System; Composition; Appointment; Term; Vacancies; Meetings; Election of Chairman.

Section 9-3-405 - Retirement Board Duties and Powers.

Section 9-3-406 - Retirement Board; Employment and Compensation of Director, Consulting Actuary and Assistants; Director Designated Secretary; Compensation of Members; Quorum; Seal.

Section 9-3-407 - Retirement Board; Control and Management of Account Containing Assets of Retirement System; Payments From Account.

Section 9-3-408 - Designated Custodian of Retirement Account; Disbursements; Investment of Account Monies.

Section 9-3-409 - Retirement Board; Rules and Regulations; Powers and Privileges Required to Perform Functions; Requiring Employers to Furnish Information and Keep Records.

Section 9-3-410 - Retirement Board; Actuarial Investigation and Valuation of System; Annual Valuation of Assets and Liabilities to Be Prepared and Published; Public Record of Proceedings.

Section 9-3-411 - Retirement Board; Right to Hearing Before Board; Judicial Review.

Section 9-3-412 - Members' Contributions; Payroll Deductions; Employer Authorized to Pay Employee's Share.

Section 9-3-413 - Employer's Contributions; Payable Monthly; Transfer to Account; Interest Imposed Upon Delinquent Contributions; Recovery.

Section 9-3-414 - Provision for Employers' Contributions to Be Made in Budgets; Notice to Department Heads.

Section 9-3-415 - When Retirement Permitted; Service Credit.

Section 9-3-416 - Members Leaving Service Without Withdrawing Accumulated Contributions Eligible for Retirement.

Section 9-3-417 - Determination of Eligibility for Retirement; Board to Determine Equivalent of Years of Service; Credit for Military Service.

Section 9-3-418 - Amount of Service Retirement Benefit; Firefighter Members Excluded.

Section 9-3-419 - Retirement Benefit Adjustments.

Section 9-3-420 - Option as to Form of Benefit; Beneficiary Designations.

Section 9-3-421 - Death Benefits; Monthly Benefit Option; Refund of Excess Employee Contributions Plus Interest; Medical Insurance Premiums.

Section 9-3-422 - Disability Retirement; Board Determination; Reports and Examinations; Amount; Options as to Form of Benefit.

Section 9-3-423 - Disability; Medical and Other Examinations, Tests and Evaluations Subsequent to Retirement; Failure to Submit to Examinations, Tests and Evaluations; Restoration to Service; Deduction From Benefit for Excess Earnings.

Section 9-3-424 - Refund of Contributions Upon Termination of Employment; Procedure; Redeposit; Limitation on Refund.

Section 9-3-425 - Right of Members Retired Under Terminated Systems to Retirement Benefits From Account; No Prohibition to Increase Provided in w.s. 9-3-419.

Section 9-3-426 - Benefits, Allowances and Contents of Account Exempt From Taxation and Not Subject to Execution or Attachment; Assignment Limited; Qualified Domestic Relations Order; System Assets.

Section 9-3-427 - Other Retirement Plans Prohibited.

Section 9-3-428 - Construction of Article; Limitation of Liability of State; Termination of System.

Section 9-3-429 - False Statements and Records Prohibited; Right to Modify Article.

Section 9-3-430 - Application for Benefits; Benefit Payment Effective Dates; Minimum Distribution Rules.

Section 9-3-431 - Firefighter Members; Contributions; Benefit Eligibility; Service and Disability Retirement Benefits; Termination of Benefits Upon Failure to Make Timely Contribution Payments.

Section 9-3-432 - Law Enforcement Officers; Contributions; Benefit Eligibility; Service and Disability Benefits; Death Benefits; Benefit Options.

Section 9-3-433 - Short Title.

Section 9-3-434 - Definitions.

Section 9-3-435 - Scope.

Section 9-3-436 - Establishment of Trust.

Section 9-3-437 - Powers of Trustee.

Section 9-3-438 - Delegation of Functions.

Section 9-3-439 - General Duties of Trustee and Fiduciary.

Section 9-3-440 - Duties of Trustee in Investing and Managing Assets of Retirement System.

Section 9-3-441 - Special Application of Duties.

Section 9-3-442 - Reviewing Compliance.

Section 9-3-443 - Liability of Trustee or Other Fiduciary.

Section 9-3-444 - Open Meetings and Records.

Section 9-3-445 - Disclosure to Public.

Section 9-3-446 - Disclosure to Participants and Beneficiaries.

Section 9-3-447 - Reports to Agency.

Section 9-3-448 - Summary Plan Description.

Section 9-3-449 - Annual Disclosure of Financial and Actuarial Status.

Section 9-3-450 - Annual Report.

Section 9-3-451 - Enforcement.

Section 9-3-452 - Alienation of Benefits.

Section 9-3-453 - Public Employee Retirement Plans; Funding; Legislative Findings; Required Determinations for Benefit Increases.

Section 9-3-454 - Required Determinations for Recommended Benefit Increases.