! The Capitol Complex is closed to the public due to COVID-19. All meetings will be held virtually online. View procedures and guidelines (PDF) for remote public comment and virtual meeting instructions (PDF).

Download Zipped Introduced WP 8.0 SB0134.ZIP 5,308 Bytes
[Status][Bill Documents][Fiscal Note][Bills Directory]

S.B. 134

             1     

PUBLIC SAFETY RETIREES - COST OF

             2     
LIVING ALLOWANCE

             3     
2000 GENERAL SESSION

             4     
STATE OF UTAH

             5     
Sponsor: Mike Dmitrich

             6      AN ACT RELATING TO PENSIONS; INCREASING THE COST-OF-LIVING ALLOWANCE
             7      FOR MEMBERS OF THE PUBLIC SAFETY RETIREMENT SYSTEMS; AND PROVIDING
             8      AN EFFECTIVE DATE.
             9      This act affects sections of Utah Code Annotated 1953 as follows:
             10      AMENDS:
             11          49-4-601, as last amended by Chapter 31, Laws of Utah 1997
             12          49-4a-601, as enacted by Chapter 260, Laws of Utah 1989
             13      Be it enacted by the Legislature of the state of Utah:
             14          Section 1. Section 49-4-601 is amended to read:
             15           49-4-601. Annual cost-of-living adjustment.
             16          (1) The retirement office shall compute and pay, upon approval by the board, an annual
             17      cost-of-living adjustment to all retired members after the members have been retired one year. The
             18      adjustment shall be equal to the decrease in the purchasing power of the dollar during the
             19      preceding year, as measured by the Consumer Price Index, U.S. City Average, prepared by the
             20      United States Bureau of Labor Statistics, and shall be limited to a maximum of [2.5%] 4% of the
             21      retirant's or beneficiary's retirement allowance at the time of retirement. Decreases in the
             22      purchasing power of the dollar exceeding [2.5%] 4% annually shall be accumulated and used in
             23      subsequent allowances when the cost-of-living adjustment is less than [2.5%] 4%.
             24          (2) The cost-of-living adjustment shall be reduced if the index shows a decline of 4% or
             25      more during any period of more than one year. These reductions may not exceed 2% per year
             26      based upon the original retirement allowance. Payments made under this section shall be a part
             27      of the retired member's allowance. Payments and adjustments for the retirant shall also apply to


             28      the beneficiary.
             29          Section 2. Section 49-4a-601 is amended to read:
             30           49-4a-601. Annual cost-of-living adjustment.
             31          (1) The retirement office shall compute and pay, upon approval by the board, an annual
             32      cost-of-living adjustment to all retired members after the members have been retired one year. The
             33      adjustment shall be equal to the decrease in the purchasing power of the dollar during the
             34      preceding year, as measured by the Consumer Price Index, U.S. City Average, prepared by the
             35      United States Bureau of Labor Statistics, and shall be limited to a maximum of [2.5%] 4% of the
             36      retirant's or beneficiary's retirement allowance at the time of retirement. Decreases in the
             37      purchasing power of the dollar exceeding [2.5%] 4% annually shall be accumulated and used in
             38      subsequent allowances when the cost-of-living adjustment is less than [2.5%] 4%.
             39          (2) The cost-of-living adjustment shall be reduced if the index shows a decline of 4% or
             40      more during any period of more than one year. These reductions may not exceed 2% per year
             41      based upon the original retirement allowance. Payments made under this section shall be a part
             42      of the retired member's allowance. Payments and adjustments for the retirant shall also apply to
             43      the beneficiary.
             44          Section 3. Effective date.
             45          This act takes effect on July 1, 2000.




Legislative Review Note
    as of 1-19-00 3:55 PM


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

Office of Legislative Research and General Counsel


[Bill Documents][Bills Directory]