Utah Code 49-11-624. Withdrawing entity — Participation election date — Withdrawal costs — Rulemaking
Current as of: 2023 | Check for updates
|
Other versions
49-11-624. Withdrawing entity — Participation election date — Withdrawal costs — Rulemaking.
(1) | As used in this section, “withdrawing entity” means the mutual corporation that is the successor to the quasi-public corporation created under Chapter 33, Workers’ Compensation Fund, which is the chapter repealed by Laws of Utah 2017, Chapter 363. |
(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) | Notwithstanding any other provision of this title, a withdrawing entity may provide for the participation of its employees with that system or plan as follows:
|
(3) | The withdrawing entity described under Subsection (2) may elect to:
|
(4) |
|
(5) | If a withdrawing entity elects to continue participation under Subsection (3), the withdrawing entity shall continue to be subject to the laws and the rules governing the system or plan in which an employee participates, including the accrual of service credit and payment of contributions. |
(6) | Before a withdrawing entity may withdraw under this section, the withdrawing entity and the office shall enter into an agreement on:
|
(7) | The board shall make rules to implement this section. |
Revisor instructions Chapter 273, 2018 General Session
Revisor instructions Chapter 363, 2017 General Session
Enacted by Chapter 363, 2017 General Session
Revisor instruction to modify language.