Utah Code 49-22-201. System membership — Eligibility
Current as of: 2024 | Check for updates
|
Other versions
(1) Beginning July 1, 2011, a participating employer shall participate in this system.
Terms Used In Utah Code 49-22-201
- Board: means the Utah State Retirement Board established under Section 49-11-202. See Utah Code 49-11-102
- Contributions: means the total amount paid by the participating employer and the member into a system or to the Utah Governors' and Legislators' Retirement Plan under Chapter 19, Utah Governors' and Legislators' Retirement Act. 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
- 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
- Initially entering: includes an employee of a participating employer, except for an employee that is not eligible under a system or plan under this title, who:(29)(c)(i) does not have any prior service credit on file with the office;(29)(c)(ii) is covered by a retirement plan other than a retirement plan created under this title; and(29)(c)(iii) moves to a position with a participating employer that is covered by this title. See Utah Code 49-11-102
- Member: means a person, except a retiree, with contributions on deposit with a system, the Utah Governors' and Legislators' Retirement Plan under Chapter 19, Utah Governors' and Legislators' Retirement Act, or with a terminated system. See Utah Code 49-11-102
- Office: means the Utah State Retirement Office. See Utah Code 49-11-102
- Participant: means an individual with voluntary deferrals or nonelective contributions on deposit with the defined contribution plans administered under this title. See Utah Code 49-11-102
- Participating employer: means an employer that meets the participation requirements of:
(5)(c) Section 49-19-201; or(5)(d) Section 49-22-201 or 49-22-202. See Utah Code 49-22-102- Person: means :
(24)(a) an individual;(24)(b) an association;(24)(c) an institution;(24)(d) a corporation;(24)(e) a company;(24)(f) a trust;(24)(g) a limited liability company;(24)(h) a partnership;(24)(i) a political subdivision;(24)(j) a government office, department, division, bureau, or other body of government; and(24)(k) any other organization or entity. See Utah Code 68-3-12.5- Plan: means the Utah Governors' and Legislators' Retirement Plan created by Chapter 19, Utah Governors' and Legislators' Retirement Act, the New Public Employees' Tier II Defined Contribution Plan created by Chapter 22, Part 4, Tier II Defined Contribution Plan, the New Public Safety and Firefighter Tier II Defined Contribution Plan created by Chapter 23, Part 4, Tier II Defined Contribution Plan, or the defined contribution plans created under Section 49-11-801. 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
- Service credit: means :
(50)(a) the period during which an employee is employed and compensated by a participating employer and meets the eligibility requirements for membership in a system or the Utah Governors' and Legislators' Retirement Plan, provided that any required contributions are paid to the office; and(50)(b) periods of time otherwise purchasable under this title. See Utah Code 49-11-102- System: means the New Public Employees' Tier II Contributory Retirement System created under this chapter. See Utah Code 49-22-102
- Tier I: means a system or plan under this title for which:
(54)(a) an employee is eligible to participate if the employee initially enters regular full-time employment before July 1, 2011; or(54)(b) a governor or legislator who initially enters office before July 1, 2011. See Utah Code 49-11-102- Tier II: includes :
(55)(b)(i) the Tier II hybrid system established under:(55)(b)(i)(A) Chapter 22, Part 3, Tier II Hybrid Retirement System; or(55)(b)(i)(B) Chapter 23, Part 3, Tier II Hybrid Retirement System; and(55)(b)(ii) the Tier II Defined Contribution Plan (Tier II DC Plan) established under:(55)(b)(ii)(A) Chapter 22, Part 4, Tier II Defined Contribution Plan; or(55)(b)(ii)(B) Chapter 23, Part 4, Tier II Defined Contribution Plan. See Utah Code 49-11-102(2)(2)(a) A person initially entering regular full-time employment with a participating employer on or after July 1, 2011, who does not have service credit accrued before July 1, 2011, in a Tier I system or plan administered by the board, is eligible:(2)(a)(i) as a member for service credit and defined contributions under the Tier II hybrid retirement system established by Part 3, Tier II Hybrid Retirement System; or(2)(a)(ii) as a participant for defined contributions under the Tier II defined contribution plan established by Part 4, Tier II Defined Contribution Plan.(2)(b) A person initially entering regular full-time employment with a participating employer on or after July 1, 2011, shall:(2)(b)(i) make an election to participate in the system created under this chapter:(2)(b)(i)(A) as a member for service credit and defined contributions under the Tier II hybrid retirement system established by Part 3, Tier II Hybrid Retirement System; or(2)(b)(i)(B) as a participant for defined contributions under the Tier II defined contribution plan established by Part 4, Tier II Defined Contribution Plan; and(2)(b)(ii) electronically submit to the office notification of the member’s election under Subsection (2)(b)(i) in a manner approved by the office.(2)(c) An election made by a person initially entering regular full-time employment with a participating employer under this Subsection (2) is irrevocable beginning one year from the date of eligibility for accrual of benefits.(2)(d) If no election is made under Subsection (2)(b)(i), the person shall become a member eligible for service credit and defined contributions under the Tier II hybrid retirement system established by Part 3, Tier II Hybrid Retirement System.(3) Notwithstanding the provisions of this section and except as provided in Subsection (4), an elected official initially entering office on or after July 1, 2011:(3)(a) is only eligible to participate in the Tier II defined contribution plan established under Part 4, Tier II Defined Contribution Plan;(3)(b) is not eligible to participate in the Tier II hybrid retirement system established under Part 3, Tier II Hybrid Retirement System; and(3)(c) is vested immediately in the elected official’s benefit and the benefit is nonforfeitable, including the total amount contributed by the participating employer and the total amount contributed by the member in the Tier II defined contribution plan.(4) A legislator or full-time elected official initially entering office on or after July 1, 2011, who has previously accrued service credit:(4)(a) in a Tier I retirement system or plan administered by the board shall continue in the Tier I system or plan for which the legislator or full-time elected official is eligible; or(4)(b) in a Tier II hybrid retirement system shall continue in the Tier II system for which the full-time elected official is eligible.