Utah Code 49-16-104. Creation of trust fund
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(1) There is created the “Firefighters’ Retirement Trust Fund” for the purpose of paying the benefits and costs of administering this system.
Terms Used In Utah Code 49-16-104
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Fund: means any fund created under this title for the purpose of paying benefits or costs of administering a system, plan, or program. See Utah Code 49-11-102
- Retirement: means the status of an individual who has become eligible, applies for, and is entitled to receive an allowance under this title. See Utah Code 49-11-102
- State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
- System: means the Firefighters' Retirement System created under this chapter. See Utah Code 49-16-102
(2) The fund shall consist of all money and assets transferred to it from any terminated system, all money paid into it, including interest, in accordance with this chapter, whether in the form of cash, securities, or other assets, and of all money received from any other source.
(3) The custody, management, and investment of the fund shall be governed by Chapter 11, Utah State Retirement Systems Administration .