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House passes SB10 to set $26 state 401(k) match; vote 72-0
Summary
The Utah House approved Senate Bill 10, which sets the maximum state 401(k) match at $26 per pay period and reallocates appropriations to agency budgets to process the new benefit; the bill passed the House 72-0.
The Utah House voted unanimously to pass Senate Bill 10, the 401(k) appropriation amendments that set the state match for the newly created optional benefit at a maximum of $26 per pay period.
Why it matters: The amount establishes funding authority so the Division of Finance can process the first employer match payments that follow a benefit change enacted last session (House Bill 194). Representative Mel Brown, the House sponsor, told members that agencies must be allocated the restricted funds so they can draw the money from each agency’s…
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