Terms Used In Utah Code > Title 49 > Chapter 11 > Part 13 - Phased Retirement

• 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
• Amortization: Paying off a loan by regular installments.
• Amortization rate: means the amortization rate, as defined in Section 49-11-102, to be applied to the system that would have covered the retiree if the retiree's part-time position were considered to be an eligible, full-time position within that system. See Utah Code 49-11-1301
• Beneficiary: means any person entitled to receive a payment under this title through a relationship with or designated by a member, participant, covered individual, or alternate payee of a defined contribution plan. See Utah Code 49-11-102
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Board: means the Utah State Retirement Board established under Section 49-11-202. See Utah Code 49-11-102
• Certified contribution rate: means the board certified percent of salary paid on behalf of an active member to the office to maintain the system on a financially and actuarially sound basis. 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
• 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
• Full-time: means a:

  (a)

  regular full-time employee whose term of employment for a participating employer contemplates continued employment during a fiscal or calendar year and whose employment normally requires an average of 40 hours or more per week and who receives benefits normally provided by the participating employer;

  (b)	teacher whose term of employment for a participating employer contemplates continued employment during a school year and who teaches full time;

  (c)	firefighter service employee whose employment normally requires an average of 2,080 hours of regularly scheduled firefighter service per year; and

  (d)

  public safety service employee whose employment normally requires an average of 2,080 hours of regularly scheduled public safety service per year. See Utah Code 49-11-1301 Half-time: means : (a)  a regular employee whose term of employment for a participating employer contemplates continued employment during a fiscal or calendar year and whose employment normally requires an average of 20 hours per week and who receives benefits normally provided by the participating employer; (b)  a teacher whose term of employment for a participating employer contemplates continued employment during a school year and who teaches half time; (c)  a firefighter service employee whose employment normally requires an average of 1,040 hours of regularly scheduled firefighter service per year; (d)  a public safety service employee whose employment normally requires an average of 1,040 hours of regularly scheduled public safety service per year; and (e)  for a retiree employed before retirement as a public safety service employee or a firefighter service employee in a position for which the participating employer established a regularly scheduled work period in excess of 2,080 hours per year, one-half of that regularly scheduled work period as long as the retiree has continuing employment in that same position. See Utah Code 49-11-1301 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 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 Phased retirement: means continuing employment: (a)  on a half-time basis of a retiree with the same participating employer following the retiree's retirement date while the retiree receives a reduced retirement allowance; or (b)  on a three-quarter time basis of a retiree with the same participating employer following the retiree's retirement date while the retiree receives a reduced retirement allowance if the retiree is employed as a public safety service employee or a firefighter service employee. See Utah Code 49-11-1301 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 retirement allowance: means the pension plus the annuity, including any cost of living or other authorized adjustments to the pension and annuity. See Utah Code 49-11-102 Retirement date: means the date selected by the member on which the member's retirement becomes effective with the office. 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 Surviving spouse: means : (a)  the lawful spouse who has been married to a member for at least six months immediately before the death date of the member; or (b)  a former lawful spouse of a member with a valid domestic relations order benefits on file with the office before the member's death date in accordance with Section 49-11-612. See Utah Code 49-11-102 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 Three-quarter time: means : (a)  a firefighter service employee whose employment normally requires an average of 1,560 hours of regularly scheduled firefighter service per year; (b)  a public safety service employee whose employment normally requires an average of 1,560 hours of regularly scheduled public safety service per year; and (c)  for a retiree who was employed before retirement as a public safety service employee or a firefighter service employee in a position for which the participating employer established a regularly scheduled work period in excess of 2,080 hours per year, three quarters of that regularly scheduled work period as long as the retiree has continuing employment in that same position. See Utah Code 49-11-1301 Writing: includes :Utah Code 68-3-12.5