Terms Used In Utah Code > Title 49 > Chapter 17 > Part 1 - General Provisions

• 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
• Compensation: includes :

  (i)	performance-based bonuses;

  (ii)	cost-of-living adjustments;

  (iii)

  payments subject to Social Security deductions;

  (iv)	any payments in excess of the maximum amount subject to deduction under Social Security law;

  (v)	amounts which the member authorizes to be deducted or reduced for salary deferral or other benefits authorized by federal law; and

  (vi)

  member contributions. See Utah Code 49-17-102 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 Exempt employee: means an employee working for a participating employer: (a)  who is not eligible for service credit under Section 49-12-203, 49-13-203, 49-14-203, 49-15-203, or 49-16-203; and (b)  for whom a participating employer is not required to pay contributions or nonelective contributions. See Utah Code 49-11-102 Final average salary: means the amount calculated by averaging the highest two years of annual compensation preceding retirement, subject to Subsections (2)(a), (b), and (c). See Utah Code 49-17-102 Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006. 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 Judge: means a judge or justice of the courts of record as enumerated in Section 78A-1-101. See Utah Code 49-17-102 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 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 the state. See Utah Code 49-17-102 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 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 Judges' Contributory Retirement System created under this chapter. See Utah Code 49-17-102 United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5