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H.B. 68
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6 This act modifies code provisions relating to state officer and employee benefits. This act
7 modifies certain provisions regulating conversion of annual leave to a deferred compensation
8 plan and makes technical corrections.
9 This act affects sections of Utah Code Annotated 1953 as follows:
10 AMENDS:
11 67-19-12.7, as enacted by Chapter 125, Laws of Utah 1999
12 Be it enacted by the Legislature of the state of Utah:
13 Section 1. Section 67-19-12.7 is amended to read:
14 67-19-12.7. Accumulated annual leave -- Conversion to deferred compensation plan.
15 (1) The department shall implement a program [
16 [
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18 designated deferred compensation accounts that:
19 (a) are sponsored by the Utah State Retirement Board; and
20 (b) are qualified under Section 401(k) or Section 457 of the Internal Revenue Code.
21 (2) Any annual leave converted under Subsection (1) shall be converted into the
22 employee's deferred compensation account at the employee's pay rate at the time of [
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24 (3) [
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26 (a) exceed the maximum amount authorized by the Internal Revenue Code for each
27 calendar year[
28 (b) cause the employee's balance of accumulated annual leave to drop below 320 hours.
29 h [
30 under Subsection (1)
Legislative Review Note
as of 12-7-00 10:03 AM
A limited legal review of this legislation raises no obvious constitutional or statutory concerns.