Utah Code 49-11-1304. Phased retirement agreements
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(1) The participating employer and a willing and eligible retiree shall enter into a written agreement to participate in phased retirement.
Terms Used In Utah Code 49-11-1304
- Employer: means any department, educational institution, or political subdivision of the state eligible to participate in a government-sponsored retirement system under federal law. See Utah Code 49-11-102
- Phased retirement: means continuing employment:(4)(a) on a half-time basis of a retiree with the same participating employer following the retiree's retirement date while the retiree receives a reduced retirement allowance; or(4)(b) on a three-quarter time basis of a retiree with the same participating employer following the retiree's retirement date while the retiree receives a reduced retirement allowance if the retiree is employed as a public safety service employee or a firefighter service employee. See Utah Code 49-11-1301
- Retiree: means an individual who has qualified for an allowance under this title. 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
(2) The agreement shall specify the period of the phased retirement and, at the discretion of the agreeing parties, address:(2)(a) hours of work;(2)(b) job duties; and(2)(c) other arrangements related to the employment.