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Legislation

Wyoming law establishes task force to look at creating private-sector retirement plan

Wyoming Gov. Matthew H. Mead signed legislation creating a retirement income security task force to explore the possibility of creating a private-sector retirement plan.

The bill, which Mr. Mead signed into law March 14, creates a task force consisting of Wyoming Treasurer Mark Gordon or a designee and seven other members, including an appointee by the Wyoming state office of the AARP and state treasurer-appointed members from business, non-profit organizations and the financial services community.

The bill calls for the task force to determine how prepared Wyoming residents are to retire securely and prepare "an evaluation of options, processes and any legislative proposals necessary to implement a state-operated, privately operated or jointly operated retirement savings program for private-sector employees having limited or no access to a retirement savings program at their places of employment."

The task force must present any findings or proposed legislation to the Wyoming Legislature's joint Labor, Health and Social Services Committee by Dec. 1.

In July, Oregon became the first state to enroll participants in a "secure choice" retirement program for private-sector employees. States like California, Connecticut, Illinois and Maryland have won legislative approval to start such programs.

David Bush, Mr. Mead's spokesman, could not be immediately reached to provide comment.