H.B. 358

1

PURCHASE OF RETIREMENT CREDIT
2 AMENDMENTS
3 2000 GENERAL SESSION
4 STATE OF UTAH
5 Sponsor: Mary Carlson
6 AN ACT RELATING TO STATE OFFICERS AND EMPLOYEES; PROVIDING FOR STATE
7 PARTICIPATION IN CERTAIN RETIREMENT SERVICE CREDIT PURCHASES; AND
8 PROVIDING AN EFFECTIVE DATE.
9 This act affects sections of Utah Code Annotated 1953 as follows:
10 ENACTS:
11 67-19-14.2, Utah Code Annotated 1953
12 Be it enacted by the Legislature of the state of Utah:
13 Section 1. Section 67-19-14.2 is enacted to read:
14 67-19-14.2. Purchase of retirement credit for state employees -- Conditions --
15 Participation.
16 (1) Notwithstanding Subsection 49-3-410 (6), a state employee shall be eligible for state
17 participation in the purchase of retirement service credit under Section 49-3-410 if the employee:
18 (a) has at least 4 years of state service;
19 (b) has at least 25 years of retirement service credit; and
20 (c) is currently employed by the state.
21 (2) The state participation shall be for $5,000 for each year of the joint retirement service
22 credit purchase, for a maximum state participation of $25,000.
23 (3) Any costs for the purchase participation under this section shall be borne by the
24 employing agency and shall not be appropriated by the Legislature.
25 Section 2. Effective date.
26 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.

Office of Legislative Research and General Counsel