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
Month: means a calendar month, unless otherwise expressed. See Utah Code 68-3-12.5
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; or
(b)
on a three-quarter time basis of a retiree with the same participating employer following the retiree's retirement date while the retiree receives a reduced retirement allowance if the retiree is employed as a public safety service employee or a firefighter service employee. See Utah Code 49-11-1301
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
(a)
A participating employer shall, within five business days, notify the office if the participating employer enters a phased retirement agreement with a retiree.
(b)
A participating employer shall report to the office any change in status of the phased retirement in accordance with rules established under Section 49-11-1308.
(c)
If a participating employer fails to notify the office in accordance with this section, the participating employer is immediately subject to a compliance audit by the office.
(2)
(a)
A retiree who has entered into phased retirement agreement under this section shall report to the office the phased retirement agreement in accordance with rules established under Section 49-11-1308.
(b)
If the retiree fails to report to the office as required under this section, the office shall withhold one month‘s allowance for each month the retiree fails to make the report, in a timely manner, required under Subsection (2)(a).
(3)
If a retiree receives a retirement allowance or portion of a retirement allowance in error or in violation of this part:
(a)
the office shall cancel the retiree’s retirement allowance; and
(b)
the office shall recover any overpayment in accordance with Section 49-11-607.
(4)
If a retiree or participating employer violates this part, including a failure to report in accordance with this section, the retiree, participating employer, or both that are found to be responsible for the violation are liable to the office for the amount of any allowance overpayment, failure to make a required payment or contribution, or other amount needed to correct an error or incorrect benefit resulting from the violation.
