Utah Code 49-12-408. Minimum monthly allowance
Current as of: 2023 | Check for updates
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| (1) | A retiree under this system may not receive less than $9 per month for each year of service credit at the time of retirement. |
| (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 |
| (b) | periods of time otherwise purchasable under this title. See Utah Code 49-11-102 |
| (2) | The increased allowance provided by this section may not exceed the allowance payable under Option One under Section 49-12-402, by more than 75%. |
| (3) | The cost of providing this benefit shall be assumed within the contribution rate established under Section 49-12-301. |
Renumbered and Amended by Chapter 250, 2002 General Session