Title 67 State Officers and Employees Chapter 19 Utah State Personnel Management Act Section 12.9 Accumulated annual leave -- Annual conversion to deferred compensation plan.
67-19-12.9. Accumulated annual leave -- Annual conversion to deferred
compensation plan.
(1) If the Legislature in an annual appropriations act with accompanying intent language
specifically authorizes and fully funds the estimated costs of this use, the department shall
implement a program that allows an employee, in the approved calendar year, to elect to convert
up to 20 hours of annual leave, in whole hour increments not to exceed $250 in value, into any of
the employee's designated deferred compensation accounts that:
(a) are sponsored by the Utah State Retirement Board; and
(b) are qualified under Section 401(k) or Section 457 of the Internal Revenue Code.
(2) Any annual leave converted under Subsection (1) shall be:
(a) converted into the employee's deferred compensation account at the employee's pay
rate at the time of conversion; and
(b) calculated in the last pay period of the leave year as determined by the Division of
Finance.
(3) An employee may not convert hours of accrued annual leave to the extent that any
hours converted would:
(a) exceed the maximum amount authorized by the Internal Revenue Code for the
calendar year; or
(b) cause the employee's balance of accumulated annual leave to drop below the
maximum accrual limit provided by rule.
Amended by Chapter 139, 2006 General Session
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