H.B. 255

1

RETIREES DEFINED BENEFIT
2 ENHANCEMENT
3 1998 GENERAL SESSION
4 STATE OF UTAH
5 Sponsor: Orville D. Carnahan
6 AN ACT RELATING TO PENSIONS; AUTHORIZING PAYMENT OF AN ADDITIONAL
7 RETIREMENT BENEFIT TO CERTAIN RETIREES; AND PROVIDING AN EFFECTIVE
8 DATE.
9 This act affects sections of Utah Code Annotated 1953 as follows:
10 ENACTS:
11 49-1-617, Utah Code Annotated 1953
12 Be it enacted by the Legislature of the state of Utah:
13 Section 1. Section 49-1-617 is enacted to read:
14 49-1-617. Payment of additional retirement benefit -- Rules for implementation.
15 (1) (a) The board shall provide an additional benefit to retirees under Title 49, Chapters
16 2 and 3, whose retirement allowance, when calculated, amounts to less than the allowance
17 provided by using a 2% per year of service factor for all years of service.
18 (b) The benefit provided in Subsection (1)(a) shall be calculated by the board using a
19 factor that is as close as reasonably possible to 2% per year of service for each retiree.
20 (2) Upon receipt of the legislative appropriation and after consultation with representatives
21 of those retirees under Title 49, Chapters 2 and 3, the board shall adopt standards and rules
22 governing the distribution of the money.
23 Section 2. Effective date.
24 This act takes effect on July 1, 1998.

Legislative Review Note
as of 1-6-98 11:52 AM

A limited legal review of this bill raises no obvious constitutional or statutory concerns.

Office of Legislative Research and General Counsel

- 2 -