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House advances changes to Tier 2 public-safety retirement, citing recruitment and retention needs
Summary
On March 14, 2019, the Utah House voted to advance a third substitute for Senate Bill 129, a measure that delays implementation until July 1, 2020, increases employer contributions for Tier 2 public safety employees and aims to restore a 50% retirement benefit at 25 years. Sponsors said it will help recruit and retain police and firefighters; members debated fiscal impacts to state and local budgets.
The Utah House of Representatives on March 14 advanced a rewritten version of Senate Bill 129 aimed at restoring more generous retirement benefits for Tier 2 public-safety employees, including police, firefighters and corrections officers.
Representative Perry, the House sponsor, told colleagues that the third substitute delays implementation to July 1, 2020, raises the participating employer contribution in the defined-benefit portion of the plan from 12 percent to 14 percent, and restores a 2 percent multiplier so eligible members will be able to reach a 50 percent retirement benefit after 25 years of service. “We’re gonna get them to 50%,” Perry said…
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