Utah Code 49-11-602. Participating employer to maintain records — Time limit — Penalties for failure to comply

49-11-602. Participating employer to maintain records — Time limit — Penalties for failure to comply.

(1)

A participating employer shall:

Terms Used In Utah Code 49-11-602

Contributions: means the total amount paid by the participating employer and the member into a system or to the Utah Governors' and Legislators' Retirement Plan under Chapter 19, Utah Governors' and Legislators' Retirement Act. 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
Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
Member: means a person, except a retiree, with contributions on deposit with a system, the Utah Governors' and Legislators' Retirement Plan under Chapter 19, Utah Governors' and Legislators' Retirement Act, or with a terminated system. See Utah Code 49-11-102
Month: means a calendar month, unless otherwise expressed. See Utah Code 68-3-12.5
Office: means the Utah State Retirement Office. 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
Plan: means the Utah Governors' and Legislators' Retirement Plan created by Chapter 19, Utah Governors' and Legislators' Retirement Act, the New Public Employees' Tier II Defined Contribution Plan created by 4, the New Public Safety and Firefighter Tier II Defined Contribution Plan created by 4, or the defined contribution plans created under Section 49-11-801. 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
State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
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 3, and the defined benefit portion of the Tier II Hybrid Retirement System under 3. See Utah Code 49-11-102
Tier II: includes :

(i)

the Tier II hybrid system established under:

(A)

3; or

(B)

3; and

(ii)

the Tier II Defined Contribution Plan (Tier II DC Plan) established under:

(A)

4; or

(B)	4. See Utah Code 49-11-102
(a)	maintain records necessary to calculate benefits under this title and other records necessary for proper administration of this title as required by the office; and

(b)

maintain records that indicate whether an employee is receiving:

(i)

a benefit under state or federal law that, under Subsection 49-12-102(1)(b)(vi) or (vii), is excluded from the definition of benefits normally provided for purposes of Chapter 12, Public Employees’ Contributory Retirement Act, Chapter 13, Public Employees’ Noncontributory Retirement Act, or Chapter 22, New Public Employees’ Tier II Contributory Retirement Act; or

(ii)	a benefit under a benefit package generally offered to similarly situated employees.

(2)

A participating employer shall maintain the records required under Subsection (1) until the earliest of:

(a)	three years after the date of retirement of the employee from a system or plan;

(b)	three years after the date of death of the employee; or

(c)	65 years from the date of employment with the participating employer.

(3)

A participating employer shall be liable to the office for:

(a)	any liabilities and expenses, including administrative expenses and the cost of increased benefits to members, resulting from the participating employer’s failure to maintain records under this section; and

(b)	a penalty equal to 1% of the participating employer’s last month‘s contributions.

(4)	The executive director may waive all or any part of the interest, penalties, expenses, and fees if the executive director finds there were extenuating circumstances surrounding the participating employer’s failure to comply with this section.

(5)	The office may estimate the length of service, compensation, or age of any member, if that information is not contained in the records.

(6)

(a)	A participating employer shall enroll an employee, make reports, submit contributions, and provide other requested information electronically in a manner approved by the office.

(b)	A participating employer shall treat any information provided electronically or otherwise by the office as subject to the confidentiality provisions of this title.

Amended by Chapter 141, 2017 General Session

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