S.B. 106

1

RETIREMENT BENEFIT ENHANCEMENT
2 2000 GENERAL SESSION
3 STATE OF UTAH
4 Sponsor: Howard C. Nielson
5 AN ACT RELATING TO PENSIONS; AUTHORIZING PAYMENT OF AN ADDITIONAL
6 RETIREMENT BENEFIT TO CERTAIN RETIREES; AND PROVIDING AN EFFECTIVE
7 DATE.
8 This act affects sections of Utah Code Annotated 1953 as follows:
9 ENACTS:
10 49-1-617, Utah Code Annotated 1953
11 Be it enacted by the Legislature of the state of Utah:
12 Section 1. Section 49-1-617 is enacted to read:
13 49-1-617. Payment of additional retirement benefit -- Rules for implementation.
14 (1) (a) If the Legislature in an annual appropriations act with accompanying intent
15 language specifically authorizes this use, the board shall provide an additional benefit to retirees
16 under Title 49, Chapters 2, Public Employees' Retirement Act, and 3, Public Employees'
17 Noncontributory Retirement Act, whose retirement allowance, when calculated, amounts to less
18 than the allowance provided by using a 2% per year of service factor for all years of service.
19 (b) The benefit provided in Subsection (1)(a) shall be calculated by the board using a factor
20 that is as close as reasonably possible to 2% per year of service for each retiree.
21 (2) Upon receipt of the legislative appropriation and after consultation with representatives
22 of those retirees under Title 49, Chapters 2 and 3, the board shall adopt standards and rules
23 governing the distribution of the money.
24 Section 2. Effective date.
25 This act takes effect on July 1, 2000.

Legislative Review Note
as of 12-21-99 8:27 AM

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

Office of Legislative Research and General Counsel