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H.B. 358
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PURCHASE OF RETIREMENT CREDIT
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AMENDMENTS
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2000 GENERAL SESSION
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STATE OF UTAH
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Sponsor: Mary Carlson
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AN ACT RELATING TO STATE OFFICERS AND EMPLOYEES; PROVIDING FOR STATE
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PARTICIPATION IN CERTAIN RETIREMENT SERVICE CREDIT PURCHASES; AND
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PROVIDING AN EFFECTIVE DATE.
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This act affects sections of Utah Code Annotated 1953 as follows:
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ENACTS:
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67-19-14.2, Utah Code Annotated 1953
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Be it enacted by the Legislature of the state of Utah:
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Section 1.
Section
67-19-14.2
is enacted to read:
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67-19-14.2. Purchase of retirement credit for state employees -- Conditions --
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Participation.
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(1) Notwithstanding Subsection
49-3-410
(6), a state employee shall be eligible for state
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participation in the purchase of retirement service credit under Section
49-3-410
if the employee:
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(a) has at least 4 years of state service;
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(b) has at least 25 years of retirement service credit; and
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(c) is currently employed by the state.
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(2) The state participation shall be for $5,000 for each year of the joint retirement service
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credit purchase, for a maximum state participation of $25,000.
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(3) Any costs for the purchase participation under this section shall be borne by the
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employing agency and shall not be appropriated by the Legislature.
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Section 2. Effective date.
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This act takes effect on July 1, 2000.
Legislative Review Note
as of 2-3-00 2:18 PM
A limited legal review of this legislation raises no obvious constitutional or statutory concerns.