Section 402 – Local Public Safety and Firefighter Surviving Spouse Trust Fund Board of Trustees — Quorum — Duties — Establish rates.

• (1)
  • (a) There is created the Local Public Safety and Firefighter Surviving Spouse Trust Fund Board of Trustees composed of four members:
    • (i) the commissioner of public safety or the commissioner’s designee;
    • (ii) the executive director of the Governor’s Office of Planning and Budget or the executive director’s designee;
    • (iii) one person representing municipalities, designated by the Utah League of Cities and Towns; and
    • (iv) one person representing counties, designated by the Utah Association of Counties.
  • (b) The commissioner of public safety, or the commissioner’s designee, is chair of the board.
  • (c) Three members of the board are a quorum.
  • (d) A member may not receive compensation or benefits for the member’s service, but may receive per diem and travel expenses in accordance with:
    • (i) Section 63A-3-106;
    • (ii) Section 63A-3-107; and
    • (iii) rules made by the Division of Finance according to Sections 63A-3-106 and 63A-3-107.
  • (e)
    • (i) The Department of Public Safety shall staff the board of trustees.
    • (ii) The department shall provide accounting services for the trust fund.

• (2) The board shall:
  • (a) establish rates to charge each employer based on the number of public safety service employees and firefighter service employees who are eligible for the health coverage under this chapter;
  • (b) act as trustee of the trust fund and exercise the state’s fiduciary responsibilities;
  • (c) meet at least once per year;
  • (d) review and approve all policies, projections, rules, criteria, procedures, forms, standards, performance goals, and actuarial reports;
  • (e) review and approve the budget for the trust fund;
  • (f) review financial records of the trust fund, including trust fund receipts, expenditures, and investments;
  • (g) commission and obtain financial or actuarial studies of the liabilities for the trust fund;
  • (h) calculate and approve administrative expenses of the trust fund; and
  • (i) do any other things necessary to perform the fiduciary obligations under the trust.

Amended by Chapter 382, 2021 General Session