Utah Code 53-17-401. Local Public Safety and Firefighter Surviving Spouse Trust Fund
Current as of: 2023 | Check for updates
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53-17-401. Local Public Safety and Firefighter Surviving Spouse Trust Fund.
(1) | There is created a private purpose trust fund entitled the “Local Public Safety and Firefighter Surviving Spouse Trust Fund.” |
(a) | is a participating employer; and |
(b) | employs one or more public safety service employees or firefighter service employees who are eligible to earn service credit in a Utah Retirement System under Title 49, Utah State Retirement and Insurance Benefit Act. See Utah Code 53-17-102 | ||||||||
(2) | The trust fund consists of:
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(4) | The trust fund shall earn interest. |
(5) | The revenue and interest in the account, less actual administrative costs to the department, shall be used to lower fees paid by an employer under Section 53-17-201. |
(6) | The board of trustees created in Section 53-17-402 may expend money from the trust fund:
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(7) | Money deposited into the trust fund is irrevocable and is expended only for the purposes described in this chapter. |
(8) | Assets of the trust fund are dedicated for the purposes established by statute and administrative rule. |
(9) | Creditors of the board of trustees and of employers liable for the benefits paid under this chapter may not seize, attach, or otherwise obtain assets of the trust fund. |
Amended by Chapter 269, 2017 General Session