Skip to main content
Find a Lawyer

Utah Code Title 49. Utah State Retirement and Insurance Benefit Act § 49-14-301. Contributions--Two divisions--Election by employer to pay employee contributions--Accounting for and vesting of member contributions--Deductions

Current as of January 01, 2025 | Updated by Findlaw Staff

(1) Participating employers and members shall jointly pay the certified contribution rates to the office to maintain this system on a financially and actuarially sound basis.

(2) For purposes of determining contribution rates, this system is divided into two divisions according to Social Security coverage as follows:

(a) members of this system with on-the-job Social Security coverage are in Division A; and

(b) members of this system without on-the-job Social Security coverage are in Division B.

(3) In addition to the divisions under Subsection (2) and for the purpose of determining contribution rates, each division under Subsection (2) is further divided as follows:

(a) members of this system with a maximum annual cost-of-living adjustment under Subsection 49-14-403(2)(b) are in Divisions A1 and B1; and

(b) members of this system with a maximum annual cost-of-living adjustment under Subsection 49-14-403(2)(a) are in Divisions A2 and B2.

(4)(a) A participating employer may elect to pay all or part of the required member contributions, in addition to the required participating employer contributions.

(b) Any amount contributed by a participating employer under this section shall vest to the member's benefit as though the member had made the contribution.

(c) The required member contributions shall be reduced by the amount that is paid by the participating employer.

(5)(a) All member contributions are credited by the office to the account of the individual member.

(b) This amount, plus refund interest, is held in trust for the payment of benefits to the member or the member's beneficiaries.

(c) All member contributions are vested and nonforfeitable.

(6)(a) Each member is considered to consent to payroll deductions of member contributions.

(b) The payment of compensation less these payroll deductions is considered full payment for services rendered by the member.

(7) Contribution rates for a participating employer may be different than for other participating employers based on the participating employer's current funding status and actuarial experience.

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - Utah Code Title 49. Utah State Retirement and Insurance Benefit Act § 49-14-301. Contributions--Two divisions--Election by employer to pay employee contributions--Accounting for and vesting of member contributions--Deductions - last updated January 01, 2025 | https://codes.findlaw.com/ut/title-49-utah-state-retirement-and-insurance-benefit-act/ut-code-sect-49-14-301/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard