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
Title 9 - Administration of the Government
Chapter 3 - Compensation and Benefits
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 9-3-405 - Retirement Board Duties and Powers.
Section 9-3-411 - Retirement Board; Right to Hearing Before Board; Judicial Review.
Section 9-3-415 - When Retirement Permitted; Service Credit.
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 9-3-427 - 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 9-3-433 - Short Title.
Section 9-3-434 - Definitions.
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 9-3-454 - Required Determinations for Recommended Benefit Increases.