Terms Used In Utah Code > Title 49 > Chapter 11 > Part 1 - General Provisions

• Active member: means a member who:

  (i)	is employed by a participating employer and accruing service credit; or

  (ii)

  within the previous 120 days: (A)  has been employed by a participating employer; and (B)  accrued service credit. See Utah Code 49-11-102 Agency: means : (i)  a department, division, agency, office, authority, commission, board, institution, or hospital of the state; (ii)  a county, municipality, school district, special district, or special service district; (iii)  a state college or university; or (iv)  any other participating employer. See Utah Code 49-11-102 Alternate payee: means a member's former spouse or family member eligible to receive payments under a Domestic Relations Order in compliance with Section 49-11-612. See Utah Code 49-11-102 Annuity: means monthly payments derived from member contributions. See Utah Code 49-11-102 Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year. Appointive officer: means an employee appointed to a position for a definite and fixed term of office by official and duly recorded action of a participating employer whose appointed position is designated in the participating employer's charter, creation document, or similar document, and: (a)  who earns $500 or more per month, indexed as of January 1, 1990, as provided in Section 49-12-407 for a Tier I appointive officer; and (b)  whose appointive position is full-time as certified by the participating employer for a Tier II appointive officer. See Utah Code 49-11-102 Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account. Board: means the Utah State Retirement Board established under Section 49-11-202. See Utah Code 49-11-102 Board member: means a person serving on the Utah State Retirement Board as established under Section 49-11-202. See Utah Code 49-11-102 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 Covered individual: means any individual covered under Chapter 20, Public Employees' Benefit and Insurance Program Act. See Utah Code 49-11-102 Current service: means covered service under: (a)  Chapter 12, Public Employees' Contributory Retirement Act; (b)  Chapter 13, Public Employees' Noncontributory Retirement Act; (c)  Chapter 14, Public Safety Contributory Retirement Act; (d)  Chapter 15, Public Safety Noncontributory Retirement Act; (e)  Chapter 16, Firefighters' Retirement Act; (f)  Chapter 17, Judges' Contributory Retirement Act; (g)  Chapter 18, Judges' Noncontributory Retirement Act; (h)  Chapter 19, Utah Governors' and Legislators' Retirement Act; (i)  Chapter 22, New Public Employees' Tier II Contributory Retirement Act; or (j)  Chapter 23, New Public Safety and Firefighter Tier II Contributory Retirement Act. See Utah Code 49-11-102 defined contribution plan: means any defined contribution plan or deferred compensation plan authorized under the Internal Revenue Code and administered by the board. See Utah Code 49-11-102 Educational institution: means a political subdivision or instrumentality of the state or a combination thereof primarily engaged in educational activities or the administration or servicing of educational activities, including: (a)  the State Board of Education and its instrumentalities; (b)  any institution of higher education and its branches; (c)  any school district and its instrumentalities; (d)  any vocational and technical school; and (e)  any entity arising out of a consolidation agreement between entities described under this Subsection (22). 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 Fiduciary: A trustee, executor, or administrator. 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 Institution of higher education: means an institution described in Section 53B-1-102. See Utah Code 49-11-102 Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC 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 Member contributions: means the sum of the contributions paid to a system or the Utah Governors' and Legislators' Retirement Plan, including refund interest if allowed by a system, and which are made by: (a)  the member; and (b)  the participating employer on the member's behalf under Section 414(h) of the Internal Revenue Code. 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 Participant: means an individual with voluntary deferrals or nonelective contributions on deposit with the defined contribution plans administered under this title. 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 Pension: means monthly payments derived from participating employer contributions. See Utah Code 49-11-102 Person: means :Utah Code 68-3-12.5 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 Political subdivision: includes special districts, special service districts, or authorities created by the Legislature or by local governments, including the office. See Utah Code 49-11-102 Program: means the Public Employees' Insurance Program created under Chapter 20, Public Employees' Benefit and Insurance Program Act, or the Public Employees' Long-Term Disability program created under Chapter 21, Public Employees' Long-Term Disability Act. See Utah Code 49-11-102 Public funds: means those funds derived, either directly or indirectly, from public taxes or public revenue, dues or contributions paid or donated by the membership of the organization, used to finance an activity whose objective is to improve, on a nonprofit basis, the governmental, educational, and social programs and systems of the state or its political subdivisions. See Utah Code 49-11-102 Refund interest: means the amount accrued on member contributions at a rate adopted by the board. See Utah Code 49-11-102 Retiree: means an individual who has qualified for an allowance under this title. 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 Service credit: means : (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 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 I: means a system or plan under this title for which: (a)  an employee is eligible to participate if the employee initially enters regular full-time employment before July 1, 2011; or (b)  a governor or legislator who initially enters office before July 1, 2011. 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 Utah Board of Higher Education: means the Utah Board of Higher Education described in Section 53B-1-402. See Utah Code 49-11-102 Voluntary deferrals: means an amount contributed by a participant into that participant's defined contribution account. See Utah Code 49-11-102