WHEREAS, when the Legislature created the Tier II retirement system, the Legislature contemplated future cost savings from the retirement benefit system to be provided for employee salary enhancements; WHEREAS, during, the 2023 General Session, the Legislature passed S.J.R. 5, Joint Rules Resolution - Budgeting Changes to State Retirement Contributions; WHEREAS, the resolution provided that if the retirement plan amortization rate as defined in Utah Code Section 49-11-102 for the new fiscal year is less than the amortization rate for the preceding fiscal year, the Legislature would presumptively set aside an amount equal to the value of the reduction in the amortization rate; WHEREAS, the resolution provided that when the total amount set aside, including any amount set aside in the new fiscal year, equals or exceeds the cost of a 0.50% increase in benefited state employee salaries for the new fiscal year, the set aside amount would be included in the base budget as an increase in benefited state employee salaries equal to the total set aside amount; and WHEREAS, identifying cost savings benefiting employees can contribute to long-term responsible monetary policy: NOW, THEREFORE, BE IT RESOLVED that the Legislature of the state of Utah encourages counties, cities, towns, and metro townships in the state to consider setting aside any savings from each reduction in the amortization rate and, when the total set aside money reaches a specified threshold, include the amount in the base budget as an increase to benefited local government employee salaries.