Wyoming Treasurer Wants Authority to Buy Stocks

401(K) 2013, Flickr

By Associated Press – 9 Nov ’14

Wyoming Treasurer Mark Gordon is proposing to change the state constitution to allow more state funds to be invested in stocks.

The balance in the state’s so-called rainy day fund is pushing $2 billion. Gordon says that it and other funds currently may only be invested in fixed-income investments such as bonds. Gordon says the rate of return only is about half of what the state gets on its permanent savings and pension funds which are partially invested in stocks.

The Joint Appropriations Committee of the Wyoming Legislature is set to consider the proposal at its Nov. 17 meeting in Casper.

If the Legislature approved the change at its session early next year, Wyoming voters would consider it in 2016.