| (1) |
There is created the “Public Safety Contributory Retirement Trust Fund” for the purpose of paying the benefits and the costs of administering this system. |
Terms Used In Utah Code 49-14-104
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Fund: means any fund created under this title for the purpose of paying benefits or costs of administering a system, plan, or program. 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 Public Safety Contributory Retirement System created under this chapter. See Utah Code 49-14-102
| (2) |
The fund shall consist of a number of individual trust accounts created as needed to receive the money and assets transferred into them from the respective terminated systems, all money paid into them, including interest, in accordance with this chapter, whether in the form of cash, securities, or other assets, and of all money received from any other source. |
Renumbered and Amended by Chapter 250, 2002 General Session
