Fiscal Note

HB0387 - Post-retirement Benefits Restrictions

State Impact:
Enactment of this bill will not require additional appropriations. State contributions to the 401(K) accounts of retirees rehired after April 29, 2007, will decrease but potential savings cannot be quantified.

Individual, Business and/or Local Impact:
If this bill is enacted, local government contributions to 401(K) accounts of retirees rehired after April 29, 2007, will decrease but potential savings cannot be quantified. Members of the Utah Retirement Systems who retire and are rehired after April 29, 2007, will receive lower employer contributions to their 401(K) accounts than they would have otherwise.