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URS to propose technical and definitional code updates in annual administrative bill
Summary
Utah Retirement Systems told the committee it will seek technical statutory clarifications in its annual administrative bill to harmonize definitions, update internal titles and clarify federal limits on relinquishing tax-deferred benefits.
Utah Retirement Systems general counsel Dee Larson briefed the Retirement and Independent Entities Committee on planned administrative and technical statutory changes URS will propose in its annual bill.
Larson said the bill will mainly standardize definitions (for example, "bona fide determination of employment" and "separation of service") that currently appear in different parts of the code so the same terms apply consistently across defined-benefit and defined-contribution plans. Larson…
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