Second Substitute H.B. 109

Representative Ron Bigelow proposes to substitute the following bill:

1 DEFINED CONTRIBUTION OPTION
2 2000 GENERAL SESSION
3 STATE OF UTAH
4 Sponsor: Tammy J. Rowan
5 AN ACT RELATING TO RETIREMENT; EXPANDING AN EXCLUSION FROM
6 MEMBERSHIP IN THE GOVERNOR'S AND LEGISLATIVE SERVICE SYSTEM; AND
7 PROVIDING AN EFFECTIVE DATE.
8 This act affects sections of Utah Code Annotated 1953 as follows:
9 AMENDS:
10 49-7-404, as enacted by Chapter 90, Laws of Utah 1994
11 Be it enacted by the Legislature of the state of Utah:
12 Section 1. Section 49-7-404 is amended to read:
13 49-7-404. Retirement option.
14 A governor or legislator may elect to forfeit the benefit provided by this chapter and in lieu
15 thereof participate, on the same basis as other state elected and appointed officers under Title 67,
16 Chapter 22, in a defined compensation program administered by the retirement office in
17 accordance with federal law.
18 Section 2. Effective date.
19 This act takes effect on July 1, 2000.

*HB0109S2*