(1) A governor or legislator may elect to forfeit the allowance provided by this chapter and in lieu thereof participate, on the same basis as other state elected and appointed officers under Title 67, Chapter 22, State Officer Compensation, in a defined contribution plan administered by the office, in accordance with Section 49-11-801 and in accordance with federal law.

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Terms Used In Utah Code 49-19-403

  • Board: means the Utah State Retirement Board established under Section 49-11-202. See Utah Code 49-11-102
  • defined contribution plan: means any defined contribution plan or deferred compensation plan authorized under the Internal Revenue Code and administered by the board. See Utah Code 49-11-102
  • Governor: includes former governors. See Utah Code 49-19-102
  • Legislator: includes former legislators. See Utah Code 49-19-102
  • Office: means the Utah State Retirement Office. 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
(2) A governor’s or legislator’s exclusion, exemption, participation, or election described in this section:

     (2)(a) shall be made in accordance with this section; and
     (2)(b) is subject to requirements under federal law and rules made by the board.