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House approves URS technical changes after debate over immediate vesting for attorney general staff
Summary
The Utah House on Feb. 3 approved SB 25, a package of technical and modest reforms to Utah Retirement Systems that includes an exemption allowing immediate vesting of employer contributions for certain senior attorney general staff; the measure passed 70–1 after questions on retention incentives.
SALT LAKE CITY — The Utah House on Feb. 3 approved Senate Bill 25, which makes targeted changes to the Utah Retirement Systems (URS), including clarifications and a limited exemption for senior staff in the attorney general’s office that can allow employer contributions to vest immediately.
Representative Acton, the bill sponsor, told the House the measure is primarily technical but makes five specific changes: clarifying one definition, expanding a ‘‘membership council’’ (non-voting participants), coordinating service credit between tier 1…
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