H.B. 426
         RETIREMENT PARTICIPATION MODIFICATIONS

House Committee Amendments

Amendment 1 March 5, 2014 10:55 AM



Representative Don L. Ipson proposes the following amendments:

1.    Page 1, Lines 14 through 16 :    

             14          .    allows a withdrawing entity to make an election of continued participation or
             15      withdrawal in a Utah retirement system or plan for future employees beginning on a
             16      date, no later than January 1,
{   2015   }        2018       , determined by the withdrawing entity;


2.    Page 2, Lines 50 through 53 :    

             50          (a) the withdrawing entity shall determine a date that is no later than January 1,
{   2015   }        2018       ,

             51      on which the withdrawing entity shall make an election under Subsection (3); and
             52          (b) the withdrawing entity shall pay to the office any
  reasonable       actuarial and administrative costs

             53      determined by the office to have arisen out of an election made under this section.

3.    Page 4, Lines 93 through 95 :    

             93          (g) an employee who is employed with a withdrawing entity that has elected, prior to
             94      January 1,
{   2015   }        2018       , to exclude new employees from participation in this system under Subsection

             95      49-11-623 (3).

4.    Page 6, Lines 166 through 168 :    

             166          (g) an employee who is employed with a withdrawing entity that has elected, prior to
             167      January 1,
{   2015   }        2018       , to exclude new employees from participation in this system under Subsection

             168      49-11-623 (3).

5.    Page 8, Lines 233 through 235 :    

             233          (e) an employee who is employed with a withdrawing entity that has elected, prior to
             234      January 1,
{   2015   }        2018       , to exclude new employees from participation in this system under Subsection

             235      49-11-623 (3).


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