MINUTES OF THE

SENATE RETIREMENT & INDEPENDENT ENTITIES STANDING COMMITTEE

Room 20 House Building, Utah State Capitol Complex

February 9, 2016

Members Present: Sen. Todd Weiler, Chair

Sen. Curtis S. Bramble

Sen. Gene Davis

Sen. Margaret Dayton

Sen. Karen Mayne

Sen. Daniel W. Thatcher

Staff Present: Mr. Alex Janak, Policy Analyst

Ms. Lorna Wells, Committee Secretary

NOTE: A list of visitors and a copy of handouts are filed with the committee minutes.

Chair Weiler called the meeting to order at 7:13 pm.

H.B. 35 Retirement and Insurance Benefit Claims Limits (Rep. K. Powell)

Rep. Powell explained the bill to the committee.

MOTION: Sen. Dayton moved to pass the bill out favorably. The motion passed unanimously with Sen. Thatcher absent for the vote.

S.B. 36 Postretirement Employment Exceptions (Sen. K. Mayne)

Sen. Mayne explained the bill to the committee:

Spoke to the bill: Mr. Dee Larsen, Counsel for Utah Retirement Systems

Mr. Kory Holdaway, Utah Public Employees Association

Spoke for the bill: Mr. George Chapman

MOTION: Sen. Mayne moved to pass the bill out favorably. The motion passed with Sen. Weiler voting in opposition.

Sen. Weiler relinquished the Chair to Sen. Dayton.

S.B. 133 Small Employer Retirement Program (Sen. T. Weiler)

Sen. Weiler explained the bill to the committee.

MOTION: Sen. Weiler moved to replace S.B. 133 with 1^st Substitute S.B. 133. The motion passed unanimously.

Spoke for the bill: Mr. David Damschen, State Treasurer

Mr. Danny Harris, Director of Advocacy, AARP

Mr. Jeff Scott, Director, FirstWest Retirement Solutions

Mr. Paul Rogers, Fidelity Investments

MOTION: Sen. Weiler moved to pass the bill out favorably. The motion passed unanimously.

MOTION: Sen. Weiler moved to adjourn. The motion passed unanimously.

Acting Chair Dayton adjourned the meeting at 7:50 p.m.

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Sen. Todd Weiler, Chair