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S.B. 171 Enrolled
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7 LONG TITLE
8 General Description:
9 This bill modifies the Utah State Retirement and Insurance Benefit Act by amending
10 participation provisions for higher education employees.
11 Highlighted Provisions:
12 This bill:
13 . allows a higher education employee hired on or after May 11, 2010, who has
14 service credit in the Public Employees' Contributory Retirement System and the
15 Public Employees' Noncontributory Retirement System, to elect to continue
16 participation in that system regardless of the institution's employment classification
17 assignment;
18 . provides a one-time irrevocable election until June 30, 2010, to a regular full-time
19 employee of an institution of higher education who has URS service credit to
20 transfer to a Public Employees' Retirement System;
21 . provides for certain rulemaking by the board; and
22 . makes technical changes.
23 Monies Appropriated in this Bill:
24 None
25 Other Special Clauses:
26 None
27 Utah Code Sections Affected:
28 AMENDS:
29 49-12-204, as renumbered and amended by Laws of Utah 2002, Chapter 250
30 49-13-204, as renumbered and amended by Laws of Utah 2002, Chapter 250
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32 Be it enacted by the Legislature of the state of Utah:
33 Section 1. Section 49-12-204 is amended to read:
34 49-12-204. Higher education employees' eligibility requirements -- Election
35 between different retirement plans -- Classification requirements -- Transfer between
36 systems -- One-time election window -- Rulemaking.
37 (1) (a) [
38 institution of higher education who [
39 retirement annuity contract with the Teachers' Insurance and Annuity Association of America
40 or with any other public or private system, organization, or company, designated by the Board
41 of Regents, shall, not later than January 1, 1979, elect to participate exclusively in this system
42 or in an annuity contract allowed under this Subsection (1).
43 (b) The election is final, and no right exists to make any further election.
44 (2) (a) [
45 hired by an institution of higher education after January 1, 1979, may participate only in the
46 retirement plan which attaches to the person's employment classification.
47 (b) Each institution of higher education shall prepare or amend existing employment
48 classifications, under the direction of the Board of Regents, so that each classification is
49 assigned with either:
50 (i) this system;
51 (ii) the Teachers' Insurance and Annuity Association of America; or
52 (iii) another public or private system, organization, or company designated by the
53 Board of Regents.
54 (c) Notwithstanding a person's employment classification assignment under
55 Subsection (2)(b), a regular full-time employee who begins employment with an institution of
56 higher education on or after May 11, 2010, has a one-time irrevocable election to continue
57 participation in this system, if the employee has service credit in this system before the date of
58 employment.
59 (3) [
60 Subsection (2)(b), a regular full-time employee hired by an institution of higher education
61 after January 1, 1979, whose employment classification requires participation in this system
62 may elect to continue participation in this system [
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66 [
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68 (4) A regular full-time employee hired by an institution of higher education after
69 January 1, 1979, whose employment classification requires participation in this system shall
70 participate in this system.
71 (5) (a) Notwithstanding any other provision of this section, a regular full-time
72 employee of an institution of higher education shall have a one-time irrevocable election to
73 participate in this system if the employee:
74 (i) was hired after January 1, 1979;
75 (ii) whose employment classification assignment under Subsection (2)(b) required
76 participation in a retirement program other than this system; and
77 (iii) has service credit in a system under this title.
78 (b) The election under Subsection (5)(a) shall be made before June 30, 2010.
79 (c) All forms required by the office must be completed and received by the office no
80 later than June 30, 2010, for the election to participate in this system to be effective.
81 (d) Beginning July 1, 2010, a regular full-time employee of an institution of higher
82 education who elects to be covered by this system under Subsection (5)(a) may begin to accrue
83 service credit in this system.
84 (6) A regular full-time employee of an institution of higher education who elects to be
85 covered by this system under Subsection (2)(c) or (5)(a), may purchase periods of employment
86 while covered under another retirement program sponsored by the institution of higher
87 education by complying with the requirements of Section 49-11-403 .
88 (7) The board shall make rules to implement this section.
89 Section 2. Section 49-13-204 is amended to read:
90 49-13-204. Higher education employees' eligibility requirements -- Election
91 between different retirement plans -- Classification requirements -- Transfer between
92 systems -- One-time election window -- Rulemaking.
93 (1) (a) [
94 institution of higher education who [
95 retirement annuity contract with the Teachers' Insurance and Annuity Association of America
96 or with any other public or private system, organization, or company, designated by the Board
97 of Regents, shall, not later than January 1, 1979, elect to participate exclusively in this system
98 or in an annuity contract allowed under this Subsection (1)(a).
99 (b) The election is final, and no right exists to make any further election.
100 (2) (a) [
101 hired by an institution of higher education after January 1, 1979, may participate only in the
102 retirement plan which attaches to the person's employment classification.
103 (b) Each institution of higher education shall prepare or amend existing employment
104 classifications, under the direction of the Board of Regents, so that each classification is
105 assigned with either:
106 (i) this system;
107 (ii) the Teachers' Insurance and Annuity Association of America; or
108 (iii) another public or private system, organization, or company designated by the
109 Board of Regents.
110 (c) Notwithstanding a person's employment classification assignment under
111 Subsection (2)(b), a regular full-time employee who begins employment with an institution of
112 higher education on or after May 11, 2010, has a one-time irrevocable election to continue
113 participation in this system, if the employee has service credit in this system before the date of
114 employment.
115 (3) [
116 Subsection (2)(b), a regular full-time employee hired by an institution of higher education
117 after January 1, 1979, whose employment classification requires participation in this system
118 may elect to continue participation in this system [
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124 (4) A regular full-time employee hired by an institution of higher education after
125 January 1, 1979, whose employment classification requires participation in this system shall
126 participate in this system.
127 (5) (a) Notwithstanding any other provision of this section, a regular full-time
128 employee of an institution of higher education whose employment classification assignment
129 under Subsection (2)(b) required participation in a retirement program other than this system
130 shall have a one-time irrevocable election to participate in this system.
131 (b) The election under Subsection (5)(a) shall be made before June 30, 2010.
132 (c) All forms required by the office must be completed and received by the office no
133 later than June 30, 2010, for the election to participate in this system to be effective.
134 (d) Beginning July 1, 2010, a regular full-time employee of an institution of higher
135 education who elects to be covered by this system under Subsection (5)(a) may begin to accrue
136 service credit in this system.
137 (6) A regular full-time employee of an institution of higher education who elects to be
138 covered by this system under Subsection (2)(c) or (5)(a) may purchase periods of employment
139 while covered under another retirement program by complying with the requirements of
140 Section 49-11-403 .
141 (7) The board shall make rules to implement this section.
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