LEGISLATIVE GENERAL COUNSEL
(INTEREST PAYMENTS FROM PUBLIC SAFETY
RETIRED RESERVE FUNDS)
B. No. 19 By Kaf1
AN ACT RELATING TO THE UTAH PUBLIC SAFETY RETIREMENT ACT;
PROVIDING FOR EXTRA PAYMENTS TO RETIRED MEMBERS OF THE
PUBLIC SAFETY RETIREMENT SYSTEM FROM INVESTMENT EARNINGS
ON RETIRED MEMBER RESERVE FUNDS; AND PROVIDING AN
THIS ACT ENACTS SECTION 49-11-50, UTAH CODE ANNOTATED 1953.
Be it enacted bv the Legislature of the State of Utah:
Section 1. Section 49-11-50, Utah Code Annotated 1953, ia
enacted to read:
49-11-50. The Utah State Retirement Board ia authorized
to make extra paymenta to retired members of the system. The
22 extra payments shall be funded from Investment earnings on
23 retired member reserve funds set aside by the board to pay
24 retirement allowances. Only the investment income in excess of
25 the actuarial Interest rate adopted by the board may be uaed to
26 fund the extra payments.
27 Section 2. This act ahall take effect July 1, 1984.
S.B. No. 19 (INTEREST PAYMENTS FROM TOBLIC SAFETY RETIRED RESERVE FUNDS)
The Subcommittee on Retirement of the State
and Local Affairs Committee reviewed this bill and
recommends It favorably.
The Retirement Board approves this
legislation for the sake of uniformity with the other
OFFICE OF LEGISLATIVE RESEARCH
AND GENERAL COUNSEL