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Senate advances bill to boost Tier 2 retirement benefits for public safety employees
Summary
Senate Bill 129 would raise retirement multipliers for Tier 2 public-safety employees, create dedicated funding from insurance premium and liquor proceeds growth, and allow a phased local employer contribution increase; sponsors say one-time and ongoing funds will cover transition costs and improve recruitment.
The Utah Senate moved forward legislation aimed at increasing retirement benefits for public-safety and firefighter employees under the Tier 2 system.
Senate Bill 129, sponsored by Senator Harper, would raise the service multiplier used to calculate retirement benefits for Tier 2 public-safety employees, create a dedicated funding stream drawn from growth in the insurance premium tax and liquor proceeds, and provide a transition window for local employers. In floor remarks Senator Harper said the bill shifts the multiplier from the prior level and supplies both one-time and…
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