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MINUTES OF THE

SENATE RETIREMENT AND INDEPENDENT ENTITIES

STANDING COMMITTEE
MONDAY, FEBRUARY 16, 2004, 1:00 P.M.
Room 305, State Capitol Building



Members Present:    Sen. John Valentine, Chair    
    Sen. Beverly Evans
    Sen. Carlene Walker
    Sen. Paula Julander
    
Member Excused:    Sen. Ron Allen
    
Staff Present:    Benjamin N. Christensen, Policy Analyst
    Dee S Larsen, Associate General Counsel
    Saundra Maeser, Senate Committee Secretary

Public Speakers Present:        Robert Newman, Executive Director, Utah Retirement Systems
    Ken Wallentine, President, Utah Peace Officers Association
    Aaron Kennard, Sheriff, Salt Lake County, Utah Sheriffs Association
    Rep. DeMar "Bud Bowman, Retired Utah Highway Patrolman
    Tom Hardy, Utah League of Cities and Towns
    Jim Judd, President, Professional Fire Fighters of Utah
    
A list of visitors and a copy of handouts are filed with the committee minutes.

Committee Chair Valentine called the meeting to order at 1:03 p.m.

1.    H.B. 11 Unused Sick Leave for State Employee Provisions (D. Clark)

    Rep. David Clark explained the bill.

     MOTION: Sen. Evans moved to pass H.B. 11 out with a favorable recommendation. The motion passed unanimously with Sen. Julander absent for the vote.

2.    H.B. 253 Retirement Office Amendments (A. Hardy)

    Rep. Ann Hardy explained the bill.

     MOTION: Sen. Walker moved to pass H.B. 253 out with a favorable recommendation. The     motion passed unanimously with Sen. Julander absent for the vote.

3.    H.B. 83 State Retirement - Funded Ratio (A. Hardy)

    Rep. Hardy explained the bill.

    Robert Newman, Executive Director, Utah Retirement Systems, answered questions related     to the bill.




     MOTION: Sen. Walker moved to pass H.B. 83 out with a favorable recommendation. The     motion passed unanimously.

4.    H.C.R. 4 Resolution Encouraging Lifetime and Retirement Savings Accounts (C. Bennion)

    Rep. Chad Bennion explained the bill.

     MOTION: Sen. Evans moved to pass H.C.R. 4 out with a favorable recommendation. The     motion passed unanimously.

5.    S.B. 26 Public Safety Retirees' Cost-of-living Increase (D. C. Buttars)

    Sen. Chris Buttars explained the bill, assisted by Ken Wallentine, President, Utah Peace     Officers Association. A handout was distributed.

     MOTION: Sen. Walker moved to adopt 1st Sub. S.B. 26. The motion passed unanimously.

    Dee S Larsen, Associate General Counsel, answered questions of the committee.

    The following spoke in support of the bill:
    Aaron Kennard, Sheriff, Salt Lake County and Utah Sheriffs Association
    Rep. Bud Bowman, retired Utah Highway Patrolman
    Tom Hardy, Utah League of Cities and Towns
    Jim Judd, Professional Fire Fighters of Utah

    Robert Newman, Executive Director, Utah Retirement Systems, answered questions          regarding the actuarial soundness of the bill.

     MOTION: Sen. Julander moved to pass 1st Sub. S.B. 26 out with a favorable          recommendation. The motion passed unanimously.

     MOTION: Sen. Evans moved to adjourn.

    The motion passed unanimously.

    Committee Chair Valentine adjourned the meeting at 1:45 p.m.

    Minutes reported by Saundra Maeser, Secretary



                __________________________________
                 Sen. John L. Valentine, Committee Chair