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Utah State Retirement and Insurance Benefit Act | |
Public Employees' Noncontributory Retirement Act | |
Section 401 | Eligibility for an allowance -- Date of retirement -- Qualifications. |
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49-13-401. Eligibility for an allowance -- Date of retirement -- Qualifications. (1) A member is qualified to receive an allowance from this system when: (a) the member ceases actual work for every participating employer that employs the member before the member's retirement date and provides evidence of the termination; (b) the member has submitted to the office a notarized retirement application form that states the member's proposed retirement date; and (c) one of the following conditions is met as of the member's retirement date: (i) the member has accrued at least four years of service credit and has attained an age of 65 years; (ii) the member has accrued at least 10 years of service credit and has attained an age of 62 years; (iii) the member has accrued at least 20 years of service credit and has attained an age of 60 years; (iv) the member has accrued at least 30 years of service credit; or (v) the member has accrued at least 25 years of service credit, in which case the member shall be subject to the reduction under Subsection 49-13-402(2)(b). (2) (a) The member's retirement date: (i) shall be the 1st or the 16th day of the month, as selected by the member; (ii) shall be on or after the date of termination; and (iii) may not be more than 90 days before or after the date the application is received by the office. (b) A member may not be employed by a participating employer in the system established by this chapter on the retirement date selected under Subsection (2)(a)(i).
Amended by Chapter 439, 2011 General Session |
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