Utah Code 49-22-104. Creation of trust fund

(1)	There is created the “New Public Employees’ Tier II Contributory Retirement Trust Fund” for the purpose of paying the benefits and costs of administering the defined benefit portion of this system.

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 New Public Employees' Tier II Contributory Retirement System created under this chapter. See Utah Code 49-22-102
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
(2)	The fund shall consist of all money paid into it, 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.

(3)	Custody, management, and investment of the fund shall be governed by Chapter 11, Utah State Retirement Systems Administration.

Enacted by Chapter 266, 2010 General Session