19-21-214. Contributions and allocations for employees in positions covered under public employees’ retirement system
19-21-214. Contributions and allocations for employees in positions covered under public employees’ retirement system. (1) The contribution rates for employees in positions covered under the public employees’ retirement system who elect to become program members pursuant to 19-3-2112 are as follows: (a) the member’s contribution rate must be the rate provided in 19-3-315; and (b) the employer’s contribution […]
19-21-103. Duties of board of regents
19-21-103. Duties of board of regents. The board of regents shall: (1) act as fiduciaries of the program and exercise its fiduciary authority in the same manner that would be used by a prudent person acting in the same capacity who is familiar with the circumstances and in an enterprise of a similar character with similar aims; […]
19-21-104. through 19-21-110 reserved
19-21-104 through 19-21-110 reserved.
19-21-111. Repealed
19-21-111. Repealed. Sec. 3, Ch. 419, L. 1997. History: En. Sec. 9, Ch. 494, L. 1987; amd. Sec. 1, Ch. 365, L. 1991; amd. Sec. 2, Ch. 178, L. 1993.
19-21-201. Participation in program
19-21-201. Participation in program. (1) Except as provided in this section, academic and professional administrative personnel with individual contracts under the authority of the board of regents are eligible for and may elect to participate in the program instead of the teachers’ retirement system. This election must be exercised: (a) before January 1, 1988, for an eligible […]
19-21-202. Effect on rights under teachers’ retirement system
19-21-202. Effect on rights under teachers’ retirement system. (1) An election under 19-21-201 to participate in the program is a waiver of all rights and benefits under the teachers’ retirement system except as provided in this section. (2) A member of the teachers’ retirement system who elects to participate in the program is considered, for the purpose […]
19-21-203. Contributions — supplemental contributions
19-21-203. Contributions — supplemental contributions. The following provisions apply to program participants not otherwise covered under 19-21-214: (1) (a) Each program participant shall contribute an amount equal to the member’s contribution required under 19-20-602. (b) (i) Each month, the board of regents shall calculate an amount equal to 1% of each participant’s earned compensation and total the amounts calculated. (ii) The […]
19-21-204. through 19-21-210 reserved
19-21-204 through 19-21-210 reserved.
19-21-211. Payment of benefits
19-21-211. Payment of benefits. A retirement, death, or other benefit may not be paid by the state or the board of regents under the university system retirement program. Benefits are payable to a participant and the participant’s beneficiaries only by the designated company or companies in accordance with the terms of the contracts. History: En. Sec. 7, […]
19-21-212. Exemption from taxation, legal process, and assessments
19-21-212. (Temporary) Exemption from taxation, legal process, and assessments. Except for execution or withholding for the payment of child support or for the payment of spousal support for a spouse or former spouse who is the custodial parent of the child, contracts, benefits, and contributions under the university system retirement program and the earnings on the […]