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SB 43 - Retirement System Amendments - Utah Key Vote

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Title: Retirement System Amendments

Vote Smart's Synopsis:

Vote to concur with House amendments and pass a bill that amends the retirement system for public employees, including, but not limited to, prohibiting the collection of retirement benefits after reemployment.

Highlights:

-Prohibits retirees who are reemployed on or after July 1, 2010 from receiving a retirement allowance, additional service credit, or any retirement related contribution (Sec. 4). -Requires the Utah State Retirement office to cancel the retirement allowance of an retiree if he or she is reemployed within 1 year of his or her retirement date (Sec. 4). -Authorizes reemployed retirees who were not reemployed within 1 year of his or her retirement date to do either of the following (Sec. 4):

    -Earn additional service credit and cancel their retirement allowance; or -Continue to receive a retirement allowance and forfeit any additional employer retirement contributions.
-Exempts retirees who are reemployed as an active senior judge appointed to hear cases by the Utah Supreme Court from the prohibition against receiving a retirement allowance, additional service credit, or any retirement related contribution (Sec. 4). -Repeals the retirement allowance limit for retirees that retired on or after July 1, 2010 and are in the following retirement systems (Secs. 8, 10, 12, 13 & 14):
    -Public Safety Contributory Retirement System; -Public Safety Noncontributory Retirement System; -Firefighters Retirement System; -Judges' Contributory Retirement System; and -Judges' Noncontributory Retirement System.
-This is a substitute bill sponsored by Rep. Stephen Sandstrom.

Full Bill Text

See How Your Politicians Voted

Title: Retirement System Amendments

Vote Smart's Synopsis:

Vote to pass a bill that amends the retirement system for public employees, including, but not limited to, prohibiting the collection of retirement benefits after reemployment.

Highlights:

-Prohibits retirees who are reemployed on or after July 1, 2010 from receiving a retirement allowance, additional service credit, or any retirement related contribution (Sec. 4). -Requires the Utah State Retirement office to cancel the retirement allowance of an retiree if he or she is reemployed within 1 year of his or her retirement date (Sec. 4). -Authorizes reemployed retirees who were not reemployed within 1 year of his or her retirement date to do either of the following (Sec. 4):

    -Earn additional service credit and cancel their retirement allowance; or -Continue to receive a retirement allowance and forfeit any additional employer retirement contributions.
-Exempts retirees who are reemployed as an active senior judge appointed to hear cases by the Utah Supreme Court from the prohibition against receiving a retirement allowance, additional service credit, or any retirement related contribution (Sec. 4). -Repeals the retirement allowance limit for retirees that retired on or after July 1, 2010 and are in the following retirement systems (Secs. 8, 10, 12, 13 & 14):
    -Public Safety Contributory Retirement System; -Public Safety Noncontributory Retirement System; -Firefighters Retirement System; -Judges' Contributory Retirement System; and -Judges' Noncontributory Retirement System.
-This is a substitute bill sponsored by Rep. Stephen Sandstrom.

Full Bill Text

NOTE: THIS IS A SUBSTITUTE BILL, MEANING THE LANGUAGE OF THE ORIGINAL BILL HAS BEEN REPLACED. THE DEGREE TO WHICH THE SUBSTITUTE BILL TEXT DIFFERS FROM THE PREVIOUS VERSION OF THE TEXT CAN VARY GREATLY.

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