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Senate passes changes to unused sick leave retirement formula after heated debate; amendment to delay effective date fails
Summary
The Utah Senate approved House Bill 213, altering how unused sick leave is converted at retirement and directing actuarial funding for retiree health liabilities. A proposed amendment to delay the bill's effective date to July 1, 2006 failed after extended debate on obligations to current employees and budget timing.
The Utah State Senate voted to pass House Bill 213, a substantial substitute changing the valuation and treatment of unused sick leave at retirement and directing the state to address actuarial liabilities for retiree health coverage.
Sponsor Senator Evans said the bill responds to actuarial findings and Governmental Accounting Standards Board (GASB) requirements that the state measure, plan for and begin funding retiree health liabilities; the substitute package folds in a market-comparability allotment, a 2.5% COLA component and adjustments to benefits funding designed to balance commitments and budget realities.
The bill drew sharp criticism from some…
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