Fiscal Note - State of Utah - 2011 General Session

HB0331S02 - Post-employment Benefits Amendments

State Government (UCA 36-12-13(2)(b)):
Enactment of this bill will reduce the accrued liability of the elected officials' post retirement benefits (currently $24,515,000), which will in turn reduce the annual required contribution (currently $2,188,000). An actuarial valuation is needed to determine the degree of savings.

Local Governments (UCA 36-12-13(2)(c)):
Enactment of this bill likely will not result in direct, measurable costs for local governments.

Direct Expenditures by Utah Residents and Businesses (UCA 36-12-13(2)(d)):
Enactment of this bill likely will not result in direct, measurable expenditures by Utah residents or businesses.