IFS Receives Favorable Mention in Wyoming Retirement Update Spring/Summer 2009 Newsletter

The following is from the Wyoming Retirement Update Spring/Summer 2009 newsletter:

"Review Brings Changes

Independent Fiduciary Services (IFS) of Washington, DC, did a limited scope operational review of WRS in October 2008.
The WRS Director and Board thoroughly participated in the review and are now working to implement recommendations from the report. For example, the report highlighted WRS' budget and staff resources are significantly below comparable-sized peers.

The supplemental budget passed by the Legislature in March included nearly $2 million and five additional staff positions for WRS to implement many of the recommendations made by IFS and supported by the WRS Board. The Legislature also appropriated $150.6 million to remedy an unfunded liability created by increases in teacher salaries.

WRS is appreciative of the support of Governor Freudenthal and the Legislature, which has helped to advance the interests of all our members. Special thanks to Senator Phil Nicholas and Representative Rosie Berger. To view the entire IFS report, go online to http://retirement.state.wy.us/pdfs/IFS.pdf."