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H.B. 164
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6 AN ACT RELATING TO STATE OFFICERS AND EMPLOYEES; ALLOWING STATE
7 EMPLOYEES TO CONVERT EXCESS ACCUMULATED ANNUAL LEAVE INTO
8 DEFERRED COMPENSATION PLAN CONTRIBUTIONS; AND GRANTING RULEMAKING
9 AUTHORITY TO THE DEPARTMENT OF HUMAN RESOURCE MANAGEMENT TO
10 IMPLEMENT THE PROGRAM.
11 This act affects sections of Utah Code Annotated 1953 as follows:
12 ENACTS:
13 67-19-12.7, Utah Code Annotated 1953
14 Be it enacted by the Legislature of the state of Utah:
15 Section 1. Section 67-19-12.7 is enacted to read:
16 67-19-12.7. Accumulated annual leave -- Conversion to deferred compensation plan.
17 (1) The division shall make rules in accordance with Title 63, Chapter 46a, Utah
18 Administrative Rulemaking Act, governing procedures whereby, after an employee has
19 accumulated 144 hours of unused annual leave, the employee may, in each calendar year, convert
20 up to 40 hours of annual leave into a deferred compensation plan qualified under Section 401(k)
21 or Section 457 of the Internal Revenue Code which is selected by the employee and sponsored by
22 the Utah State Retirement Board.
23 (2) Any hours converted under Subsection (1), shall be converted at the hourly pay rate
24 of the employee at the time of conversion.
25 (3) An employee may not convert any annual leave hours under Subsection (1) which
26 would:
27 (a) exceed the monetary amount set by federal law which may be contributed to a deferred
28 compensation plan; or
29 (b) cause the employee's balance of accumulated annual leave to drop below 144 hours.
Legislative Review Note
as of 1-26-99 9:22 AM
A limited legal review of this legislation raises no obvious constitutional or statutory concerns.