Title 49 Utah State Retirement and Insurance Benefit Act Chapter 11 Utah State Retirement Systems Administration Section 405 Service credit from different systems or plans -- Eligibility and calculation of service credit.
49-11-405.Service credit from different systems or plans -- Eligibility and
calculation of service credit.
(1) (a) A member who has service credit from two or more systems or one or more
systems and the Utah Governors' and Legislators' Retirement Plan may combine service credit for
purposes of determining eligibility for retirement.
(b) The provisions of Subsection (1)(a) do not apply to concurrent service.
(2) To be eligible for the calculation under Subsection (3), the member's service credit
earned under the different systems or the Utah Governors' and Legislators' Retirement Plan shall
at least equal the minimum amount of service credit required to retire from the system which
most recently covered the member.
(3) If a member meets the requirements of Subsection (2), the office shall calculate the
member's allowance using all service credit earned from any system or the Utah Governors' and
Legislators' Retirement Plan, with no actuarial reduction applied to the allowance, except the
service credit used to calculate the benefit shall be increased or decreased to reflect the value of
the assets transferred.
(4) The office shall establish the standards used for calculating any increase or decrease
in the service credit.
(5) This section does not apply to a retiree who is subject to Section 49-11-504.
Renumbered and Amended by Chapter 250, 2002 General Session
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