S.B. 81

1

PUBLIC SAFETY RETIREMENT AMENDMENTS
2 2003 GENERAL SESSION
3 STATE OF UTAH
4 Sponsor: Mike Dmitrich
5 This act modifies the Utah State Retirement and Insurance Benefit Act by increasing the
6 cost-of-living allowance for members of the Public Safety Retirement Systems. This act
7 takes effect on July 1, 2003.
8 This act affects sections of Utah Code Annotated 1953 as follows:
9 AMENDS:
10 49-14-403, as renumbered and amended by Chapter 250, Laws of Utah 2002
11 49-15-403, as renumbered and amended by Chapter 250, Laws of Utah 2002
12 Be it enacted by the Legislature of the state of Utah:
13 Section 1. Section 49-14-403 is amended to read:
14 49-14-403. Annual cost-of-living adjustment.
15 (1) The office shall make an annual cost-of-living adjustment to:
16 (a) an original allowance paid under Section 49-14-402 and Part 5, Death Benefit, of
17 this chapter if the allowance has been paid for at least one year; and
18 (b) an original payment made to an alternate payee under a domestic relations order, if
19 the payment is to be paid as a percentage of the allowance rather than a specific dollar amount.
20 (2) (a) The original allowance shall be increased by the annual increase in the
21 Consumer Price Index up to a maximum of [2.5%] 4.0%.
22 (b) Annual increases in the Consumer Price Index in excess of [2.5%] 4.0% shall be
23 accumulated and used in subsequent adjustments when the annual increase in the Consumer
24 Price Index is less than [2.5%] 4.0%.
25 (3) The Consumer Price Index used in calculating adjustments shall be a United States
26 Bureau of Labor Statistics Consumer Price Index average as determined by the board.
27 (4) The cost-of-living adjustment made under this section may not decrease the

28 allowance.
29 Section 2. Section 49-15-403 is amended to read:
30 49-15-403. Annual cost-of-living adjustment.
31 (1) The office shall make an annual cost-of-living adjustment to:
32 (a) an original allowance paid under Section 49-15-402 and Part 5, Death Benefit, of
33 this chapter if the allowance has been paid for at least one year; and
34 (b) an original payment made to an alternate payee under a domestic relations order if
35 the payment is to be paid as a percentage of the allowance rather than a specific dollar amount.
36 (2) (a) The original allowance shall be increased by the annual increase in the
37 Consumer Price Index up to a maximum of [2.5%] 4.0%.
38 (b) Annual increases in the Consumer Price Index in excess of [2.5%] 4.0% shall be
39 accumulated and used in subsequent adjustments when the annual increase in the Consumer
40 Price Index is less than [2.5%] 4.0%.
41 (3) The Consumer Price Index used in calculating adjustments shall be a United States
42 Bureau of Labor Statistics Consumer Price Index average as determined by the board.
43 (4) The cost-of-living adjustment made under this section may not decrease the
44 allowance.
45 Section 3. Effective date.
46 This act takes effect on July 1, 2003.




Legislative Review Note
as of 12-6-02 10:26 AM

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

Office of Legislative Research and General Counsel