Section 309 – Defined benefit adjustments — Conditions — Process — Future years accrual.
Effective 7/1/2019 49-23-309. Defined benefit adjustments — Conditions — Process — Future years accrual. (1) In accordance with this section, the Legislature may make adjustments to the benefits provided for the defined benefit portion of the Tier II Hybrid Retirement System created under this part if the member’s contribution required under Subsection 49-23-301(2)(b) to the […]
Section 402 – Defined contribution distributions for disabled members.
49-23-402. Defined contribution distributions for disabled members. For a person who is disabled and receives contributions under Subsection 49-11-404(4)(b), the disabled member may begin receiving distributions from the defined contributions made by the participating employer on behalf of the disabled member when the person would have been eligible to retire if the person was covered […]
Section 503 – Death of active member in line of duty — Payment of benefits.
Effective 7/1/2020 49-23-503. Death of active member in line of duty — Payment of benefits. If an active member of this system dies, benefits are payable as follows: (1) If the death is classified by the office as a line-of-duty death, benefits are payable as follows: (a) If the member has accrued less than 20 […]
Section 504 – Death of members — Exemption from vesting requirements for employer nonelective contributions to defined contribution plan.
Effective 5/12/2015 49-23-504. Death of members — Exemption from vesting requirements for employer nonelective contributions to defined contribution plan. (1) (a) If an active member dies, employer nonelective contributions made on behalf of the employee to a defined contribution plan under Section 49-23-302 or 49-23-401 are exempt from the vesting requirements of Subsections 49-23-302(2)(a) and […]
Section 202 – Participation of employers — Admission requirements.
Effective 5/5/2021 49-23-202. Participation of employers — Admission requirements. (1) (a) An employer is a participating employer and may not withdraw from participation in this system. (b) A participating employer shall cover the participating employer’s: (i) public safety service employees in accordance with Section 49-15-202; and (ii) firefighter service employees in accordance with Section 49-16-202. […]
Section 203 – Exemptions from participation in system.
Effective 7/1/2022 49-23-203. Exemptions from participation in system. (1) Upon filing a written request for exemption with the office, the following employees are exempt from participation in the system as provided in this section if the employee is a public safety service employee or firefighter service employee and is: (a) an executive department head of […]
Section 302 – Defined contribution benefit established — Contribution by employer and employee — Vesting of contributions — Plans to be separate — Tax-qualified status of plans.
Effective 7/1/2020 49-23-302. Defined contribution benefit established — Contribution by employer and employee — Vesting of contributions — Plans to be separate — Tax-qualified status of plans. (1) (a) A participating employer shall make a nonelective contribution on behalf of each public safety service employee or firefighter service employee who is a member of this […]
Section 303 – Defined benefit eligibility for an allowance — Date of retirement — Qualifications.
Effective 7/1/2020 49-23-303. Defined benefit eligibility for an allowance — Date of retirement — Qualifications. (1) A member is qualified to receive an allowance from this system when: (a) except as provided under Subsection (3), the member ceases actual work for every participating employer that employs the member before the member’s retirement date and provides […]
Section 304 – Defined benefit service retirement plans — Calculation of retirement allowance — Social security limitations.
Effective 7/1/2020 49-23-304. Defined benefit service retirement plans — Calculation of retirement allowance — Social security limitations. (1) (a) Except as provided under Subsection (6), the retirees of this system may choose from the six retirement options described in this section. (b) Options Two, Three, Four, Five, and Six are modifications of the Option One […]
Section 305 – Allowance payable by lump-sum payment.
49-23-305. Allowance payable by lump-sum payment. (1) If a retiree’s allowance, as computed under this chapter, amounts to $25 or less, the allowance may be settled by the office by making a lump-sum payment of an amount actuarially equivalent to the allowance. (2) A payment made under this section constitutes a full and complete settlement […]