MINUTES OF THE

HOUSE RETIREMENT AND INDEPENDENT ENTITIES STANDING COMMITTEE

Room 20, House Building

                                                            February 8, 2016

Members Present:    Rep. Kraig Powell, Chair 

Rep. Rich Cunningham, Vice Chair

                                    Rep. Sophia DiCaro 

Rep. Susan Duckworth

Rep. Steve Eliason

                                    Rep. Brad Last 

Rep. Lynn N. Hemingway

Rep. Marie Poulson

Rep. John Westwood

Staff Present:            Mr. Alex Janak, Policy Analyst

Ms. Barbara Bryner, Committee Secretary

Note: A list of visitors and a copy of handouts are filed with the committee minutes.

Rep. Powell called the meeting to order at 7:06 a.m.

S.B. 29            Retirement Systems Amendments (Sen. T. Weiler) (Rep. K. Powell)

Sen. Weiler introduced the bill to the committee.

MOTION:     Rep. DiCaro moved to pass the bill out favorably. The motion passed unanimously.

MOTION:     Rep. DiCaro moved to place S.B. 29 on the Consent Calendar. The motion passed unanimously.

S.B. 20            Retirement Systems Audit Recommendations Amendments (Sen. T. Weiler) (Rep. K. Powell)

Sen. Weiler introduced the bill to the committee with the assistance of Mr. Dan Anderson, Director, Utah Retirement System.

MOTION:     Rep. Duckworth moved to pass the bill out favorably. The motion passed unanimously.

S.B. 19            Phased Retirement (Sen. T. Weiler) (Rep. K. Powell)

Sen. Weiler introduced the bill to the committee with the assistance of Mr. Dan Anderson, Director, Utah Retirement System.

Spoke to the bill:        Mr. Kory Holdaway, KMH Consulting

Spoke for the bill:       Mr. Todd Losser, Utah Public Employees Association (UPEA)

MOTION:     Rep. Cunningham moved to pass the bill out favorably. The motion passed unanimously.

H.B. 15           Domestic Relations Retirement Shares (Rep. K. McIff)

Rep. McIff introduced the bill to the committee.

MOTION:     Rep. Poulson moved to pass the bill out favorably. The motion passed unanimously.

MOTION:     Rep. Poulson moved to adjourn the meeting. The motion passed unanimously.

Chair Powell adjourned the meeting at 7:55 a.m.

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Rep. Kraig Powell, Chair