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Senate requires retirement fiscal notes to show unfunded-liability impacts; rule change extends actuary deadline
Summary
The Utah Senate passed SB11 to require retirement fiscal notes to include effects on unfunded liability, employee wages and amortization timelines, and adopted SJR4 to extend the actuarial deadline from three to seven days. Sponsors said the measures improve transparency; both passed under suspension of the rules.
The Utah Senate on the floor passed Senate Bill 11 on a roll-call vote, directing fiscal notes for retirement-related legislation to include analysis of impacts on the unfunded liability, employee wages and the time the state would need to address that liability.
Senator Evan Fillmore, sponsor of SB11, told colleagues the interim Retirement and Independent Entities Committee reviewed…
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