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Price City Council approves increased 401(k) contribution and pickup of public-safety URS costs
Summary
The council approved Resolution 2026-9 to increase city contributions to employee 401(k) accounts to offset Utah Retirement System (URS) Tier 2 employee deductions and passed Resolution 2026-10 to pick up (pay) certain URS contributions for firefighter and police employees.
Price City Council on May 27 approved two related measures to ease retirement-contribution costs for city employees.
Staff member Lisa explained that changes in the Utah Retirement System (URS) hybrid plan require Tier 2 participants to cover a larger share of retirement contributions. The council approved Resolution 2026-9 to increase the city’s 401(k) contribution from 0.1% to 1.3% to offset required employee withholding. "We withhold that from their paycheck and submit that to the state," Lisa said, adding the city places an equivalent amount into employees’ 401(k) accounts to offset the impact.
The council also approved Resolution 2026-10 authorizing Price City to pick up additional URS contributions for public-safety employees. Lisa said the pickup applies to both firefighters and police officers where state rules allow the municipality to contribute on their behalf.
Council members framed the measures as support for employees. One council member said, "I think in support of our employees, that's something we should do." Both resolutions passed on voice vote.
The measures take effect as specified in the approved resolutions; staff said the URS changes are driven by state law and the city’s actions align with permitted employer contributions. Council members did not provide a roll-call tally in the meeting transcript.
The council moved next to infrastructure and equipment items on the agenda.
