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Retirement and Independent Entities Interim Committee - October 17, 2019
210 Senate Building
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Recording 1
Committee Business
Chair Hall called the meeting to order at 8:21 a.m..
Chair Hall announced that the committee would start the meeting by hearing non-voting items on the agenda first.
URS Update and Retirement Contribution Rates
Dan Anderson, Executive Director, Utah Retirement Systems, provided an update on Utah Retirement Systems, presented fiscal year 2020-2021 preliminary retirement contribution rates, and responded to questions and comments from the committee.
5A - URS Update and Retirement Contribution Rates
Danny White, FSA, EA, MAAA, Gabriel Roeder Smith & Company, responded to questions and comments from the committee.
Rep. Poulson moved to approve the minutes of the September 19, 2019, meeting.
Draft Legislation: FL0759, Heber Valley Historic Railroad Authority Sunset Date Extension
Peter Asplund, Associate General Counsel, Office of Legislative Research and General Counsel, presented the draft legislation: "Heber Valley Historic Railroad Authority Sunset Date Extension" (2020FL0759).
2A - Draft Legislation "Heber Valley Historic Railroad Authority Sunset Date Extension"
Rep. Poulson moved to adopt "Heber Valley Historic Railroad Authority Sunset Date Extension" as a committee bill.
Draft Legislation: FL0216, Public Safety and Firefighter Tier II Retirement Enhancements
Sen. Harper presented the draft legislation: "Public Safety and Firefighter Tier II Retirement Enhancements" (2020FL0216), and explained key provisions of the draft, inviting questions from stakeholders and the public while the bill is still in development.
3A - Draft Legislation "Public Safety and Firefighter Tier II Retirement Enhancements"
Cory Holdway, Utah Public Employees Association, spoke in favor of the bill and responded to questions and comments from the committee.
Draft Legislation: FL0524, Utah Retirement Systems Amendments
Dee Larsen, General Counsel, Utah Retirement Systems, presented draft legislation: "Utah Retirement Systems Amendments" (2020FL0524), and responded to questions and comments from the committee.
4A - Draft Legislation "Utah Retirement Systems Amendments"
4B - Summary of Items in URS Amendments Bill
Sen. Harper moved to adopt "Utah Retirement Systems Amendments" as a committee bill.
Utah Retirement Systems Actuary Update
Danny White provided information about the systems' current actuarial condition.
6A - URS Actuary Update
Utah Retirement Systems Operating Budget
Robert Dolphin, Chief Financial Officer, Utah Retirement Systems, presented an overview of the Utah Retirement Systems' operating budget.
7A - URS Operating Budget
Other Items/Adjourn
Rep. Duckworth moved to adjourn.
Chair Hall adjourned the meeting at 9:42 a.m..
Committee Business
Committee Business
Draft Legislation: FL0759, Heber Valley Historic Railroad Authority Sunset Date Extension
Draft Legislation: FL0759, Heber Valley Historic Railroad Authority Sunset Date Extension
Draft Legislation: FL0216, Public Safety and Firefighter Tier II Retirement Enhancements
Draft Legislation: FL0216, Public Safety and Firefighter Tier II Retirement Enhancements
Draft Legislation: FL0524, Utah Retirement Systems Amendments
Draft Legislation: FL0524, Utah Retirement Systems Amendments
URS Update and Retirement Contribution Rates
URS Update and Retirement Contribution Rates
Utah Retirement Systems Actuary Update
Utah Retirement Systems Actuary Update
Utah Retirement Systems Operating Budget
Utah Retirement Systems Operating Budget
Other Items/Adjourn
Other Items/Adjourn
AGENDA
AGENDA
MINUTES
MINUTES
NOTICE
NOTICE
2A - Draft Legislation "Heber Valley Historic Railroad Authority Sunset Date Extension"
2A - Draft Legislation "Heber Valley Historic Railroad Authority Sunset Date Extension"
3A - Draft Legislation "Public Safety and Firefighter Tier II Retirement Enhancements"
3A - Draft Legislation "Public Safety and Firefighter Tier II Retirement Enhancements"
4A - Draft Legislation "Utah Retirement Systems Amendments"
4A - Draft Legislation "Utah Retirement Systems Amendments"
4B - Summary of Items in URS Amendments Bill
4B - Summary of Items in URS Amendments Bill
5A - URS Update and Retirement Contribution Rates
5A - URS Update and Retirement Contribution Rates
6A - URS Actuary Update
6A - URS Actuary Update
7A - URS Operating Budget
7A - URS Operating Budget
Recording 1 -
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