Download Zipped Amended WordPerfect HB0107.ZIP
[Introduced][Status][Bill Documents][Fiscal Note][Bills Directory]
This document includes House Committee Amendments incorporated into the bill on Fri, Feb 11, 2011 at 2:31 PM by jeyring. --> This document includes Senate Committee Amendments incorporated into the bill on Wed, Mar 2, 2011 at 1:43 PM by rday. --> This document includes Senate Committee Amendments incorporated into the bill on Wed, Mar 2, 2011 at 1:45 PM by rday. --> 1
7 LONG TITLE
8 General Description:
9 This bill amends the allocation of premium tax revenues to fund volunteer firefighters'
10 long-term disability program.
11 Highlighted Provisions:
12 This bill:
13 . requires the Retirement Office to fund the long-term disability benefits for new
14 S. [
15 the Firefighters' Retirement Trust Fund; and
16 . makes technical amendments.
17 Money Appropriated in this Bill:
19 Other Special Clauses:
21 Utah Code Sections Affected:
23 49-11-902, as last amended by Laws of Utah 2008, Chapter 227
24 49-16-301, as last amended by Laws of Utah 2004, Chapter 262
25 49-23-601, as enacted by Laws of Utah 2010, Chapter 266
27 49-11-901.5, Utah Code Annotated 1953
29 Be it enacted by the Legislature of the state of Utah:
30 Section 1. Section 49-11-901.5 is enacted to read:
31 49-11-901.5. Premium tax revenues -- Distribution.
32 (1) (a) In accordance with this section there shall be paid H. to the office .H :
33 (i) 50% of the annual tax levied, assessed, and collected under Title 59, Chapter 9,
34 Taxation of Admitted Insurers, upon premiums for property insurance, as defined under
35 Section 31A-1-301 , and as applied to fire and allied lines insurance collected by insurance
36 companies within the state; and
37 (ii) 10% of all money assessed and collected under Title 59, Chapter 9, Taxation of
38 Admitted Insurers, upon premiums for life insurance, as defined in Section 31A-1-301 , within
39 the state.
40 (b) Payments to the fund shall be made annually until the service liability under this
41 part is liquidated, after which the tax revenue provided in this Subsection (1) ceases.
42 (2) The office shall distribute the premium tax revenue paid under Subsection (1) as
44 (a) an amount determined by the office to fully fund the long-term disability program
45 provided for S. [
46 (b) an amount determined by the office to the Firefighters' Retirement Trust Fund
47 created under Section 49-16-104 equal to an amount when calculated as a percentage of the
48 certified contribution rate for members in Division A and B, as defined under Section
49 49-16-301 , is the percentage of the certified contribution rate paid to the Firefighters'
50 Retirement Trust Fund on July 1, 2004; and
51 (c) any remaining amount in accordance with Section 49-11-902 .
51a S. [
51b provide the office with information on each person who is actively serving the participating
51c employer as a volunteer firefighter in order for the person to be eligible for long-term
51d disability coverage under this section.
51e (b) A participating employer shall provide to the office:
51f (i) the information under Subsection (3)(a), not later than July 1, 2011; and
51g (ii) updates to the information as changes occur. .H
52 Section 2. Section 49-11-902 is amended to read:
53 49-11-902. Premium tax revenues -- Formula -- Deposits.
54 (1) [
59 Subsections 49-11-901.5 (2)(a) and (b), including any remaining amount, the office shall
60 deposit the [
61 (a) Public Safety Contributory Trust Fund created under Section 49-14-104 ; and [
62 (b) Public Safety Noncontributory Retirement Trust Fund created under Section
63 49-15-104 .
68 (2) The money deposited under this section shall be used to fund an increase for
69 retirees in the public safety retirement systems from a 2.5% maximum annual cost-of-living
70 adjustment to a 4% maximum annual cost-of-living adjustment under Sections 49-14-403 and
71 49-15-403 in the public safety retirement systems.
72 (3) As required to implement this section, the office shall make the calculations and
73 deposits for the equitable apportionment of money between:
74 (a) Division A1 and B1; and
75 (b) the contributory and noncontributory trust funds.
76 Section 3. Section 49-16-301 is amended to read:
77 49-16-301. Contributions -- Two divisions -- Election by employer to pay
78 employee contributions -- Accounting for and vesting of worker contributions --
80 (1) In addition to the money paid to this system under [
81 49-11-901.5 , participating employers and firefighter service employees shall jointly pay the
82 certified contribution rates to the office to maintain this system on a financially and actuarially
83 sound basis.
84 (2) For purposes of determining contribution rates, this system is divided into two
85 divisions according to Social Security coverage as follows:
86 (a) members of this system with on-the-job Social Security coverage are in Division A;
88 (b) members of this system without on-the-job Social Security coverage are in Division
90 (3) (a) A participating employer may elect to pay all or part of the required member
91 contributions, in addition to the required participating employer contributions.
92 (b) Any amount contributed by a participating employer under this section shall vest to
93 the member's benefit as though the member had made the contribution.
94 (c) The required member contributions shall be reduced by the amount that is paid by
95 the participating employer.
96 (4) (a) All member contributions are credited by the office to the account of the
97 individual member.
98 (b) This amount is held in trust for the payment of benefits to the member or the
99 member's beneficiaries.
100 (c) All member contributions are vested and nonforfeitable.
101 (5) (a) Each member is considered to consent to payroll deductions of member
103 (b) The payment of compensation less these payroll deductions is considered to be full
104 payment for services rendered by the member.
118 Section 4. Section 49-23-601 is amended to read:
119 49-23-601. Long-term disability coverage.
120 (1) S. [
120a public safety employee who initially enters employment on or after July 1, 2011, .S under
120b Title 49,
121 Chapter 21, Public Employees' Long-Term Disability Act, or a substantially similar long-term
122 disability program S. [
124 [(2)] (b) firefighter service employees initially entering employment on or after July 1,
125 2011; and
126 [(3)] (c) volunteer firefighters.
127 (2) The office shall ensure that the long-term disability program provided for volunteer
128 firefighters under this section is funded with money paid under Section 49-11-901.5 .
128a (2) (a) A participating employer shall cover a firefighter employee who initially enters
128b employment on or after July 1, 2011 under Title 49, Chapter 21, Public Employees'
128c Long-Term Disability Act.
128d (b) In accordance with this section, a participating employer shall provided long term
128e disability benefit coverage for a volunteer firefighter as provided under Section 49-16-701.
128f (c) The office shall ensure that the cost of the long-term disability benefit coverage
128g provided under Subsection (2)(a) and (b) is funded with revenue received under Section
128h 49-11-901.5. .S
Legislative Review Note
as of 2-1-11 3:32 PM