49-11-1301.  Definitions.
     As used in this part:

(1)  “Amortization rate” means the amortization rate, as defined in Section 49-11-102, to be applied to the system that would have covered the retiree if the retiree’s part-time position were considered to be an eligible, full-time position within that system.

Terms Used In Utah Code 49-11-1301

  • Amortization: Paying off a loan by regular installments.
  • Amortization rate: means the board certified percent of salary required to amortize the unfunded actuarial accrued liability in accordance with policies established by the board upon the advice of the actuary. See Utah Code 49-11-102
  • At-will employee: means a person who is employed by a participating employer and:
(i) who is not entitled to merit or civil service protection and is generally considered exempt from a participating employer's merit or career service personnel systems;
(ii) whose on-going employment status is entirely at the discretion of the person's employer; or
(iii) who may be terminated without cause by a designated supervisor, manager, or director. 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
  • Participating employer: means a participating employer, as defined by Chapter 12, Public Employees' Contributory Retirement Act, Chapter 13, Public Employees' Noncontributory Retirement Act, Chapter 14, Public Safety Contributory Retirement Act, Chapter 15, Public Safety Noncontributory Retirement Act, Chapter 16, Firefighters' Retirement Act, Chapter 17, Judges' Contributory Retirement Act, and Chapter 18, Judges' Noncontributory Retirement Act, or an agency financed in whole or in part by public funds which is participating in a system or plan as of January 1, 2002. See Utah Code 49-11-102
  • Retiree: means an individual who has qualified for an allowance under this title. 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
  • retirement allowance: means the pension plus the annuity, including any cost of living or other authorized adjustments to the pension and annuity. See Utah Code 49-11-102
  • Retirement date: means the date selected by the member on which the member's retirement becomes effective with the office. See Utah Code 49-11-102
  • System: means the individual retirement systems created by Chapter 12, Public Employees' Contributory Retirement Act, Chapter 13, Public Employees' Noncontributory Retirement Act, Chapter 14, Public Safety Contributory Retirement Act, Chapter 15, Public Safety Noncontributory Retirement Act, Chapter 16, Firefighters' Retirement Act, Chapter 17, Judges' Contributory Retirement Act, Chapter 18, Judges' Noncontributory Retirement Act, and Chapter 19, Utah Governors' and Legislators' Retirement Act, the defined benefit portion of the Tier II Hybrid Retirement System under Chapter 22, Part 3, Tier II Hybrid Retirement System, and the defined benefit portion of the Tier II Hybrid Retirement System under Chapter 23, Part 3, Tier II Hybrid Retirement System. See Utah Code 49-11-102
  • (2)  “Full-time” means a:

    (a)  regular full-time employee whose term of employment for a participating employer contemplates continued employment during a fiscal or calendar year and whose employment normally requires an average of 40 hours or more per week and who receives benefits normally provided by the participating employer;

    (b)  teacher whose term of employment for a participating employer contemplates continued employment during a school year and who teaches full time;

    (c)  firefighter service employee whose employment normally requires an average of 2,080 hours of regularly scheduled firefighter service per year; and

    (d)  public safety service employee whose employment normally requires an average of 2,080 hours of regularly scheduled public safety service per year.

    (3)  “Half-time” means a:

    (a)  regular employee whose term of employment for a participating employer contemplates continued employment during a fiscal or calendar year and whose employment normally requires an average of 20 hours per week and who receives benefits normally provided by the participating employer;

    (b)  teacher whose term of employment for a participating employer contemplates continued employment during a school year and who teaches half time;

    (c)  firefighter service employee whose employment normally requires an average of 1,040 hours of regularly scheduled firefighter service per year; and

    (d)  public safety service employee whose employment normally requires an average of 1,040 hours of regularly scheduled public safety service per year.

    (4)  “Phased retirement” means continuing employment on a half-time basis of a retiree with the same participating employer following the retiree’s retirement date while the retiree receives a reduced retirement allowance.

    Amended by Chapter 10, 2017 General Session