2006 Utah Code - 49-16-301 — Contributions -- Two divisions -- Election by employer to pay employee contributions -- Accounting for and vesting of worker contributions -- Deductions.

     49-16-301.   Contributions -- Two divisions -- Election by employer to pay employee contributions -- Accounting for and vesting of worker contributions -- Deductions.
     (1) In addition to the monies paid to this system under Subsection (6), participating employers and firefighter service employees shall jointly pay the certified contribution rates to the office to maintain this system on a financially and actuarially sound basis.
     (2) For purposes of determining contribution rates, this system is divided into two divisions according to Social Security coverage as follows:
     (a) members of this system with on-the-job Social Security coverage are in Division A; and
     (b) members of this system without on-the-job Social Security coverage are in Division B.
     (3) (a) A participating employer may elect to pay all or part of the required member contributions, in addition to the required participating employer contributions.
     (b) Any amount contributed by a participating employer under this section shall vest to the member's benefit as though the member had made the contribution.
     (c) The required member contributions shall be reduced by the amount that is paid by the participating employer.
     (4) (a) All member contributions are credited by the office to the account of the individual member.
     (b) This amount is held in trust for the payment of benefits to the member or the member's beneficiaries.
     (c) All member contributions are vested and nonforfeitable.
     (5) (a) Each member is considered to consent to payroll deductions of member contributions.
     (b) The payment of compensation less these payroll deductions is considered to be full payment for services rendered by the member.
     (6) (a) Except as provided in Section 49-11-902, in addition to contribution rates described under this section, there shall be paid to the Firefighters' Retirement Trust Fund created under Section 49-16-104:
     (i) 50% of the annual tax levied, assessed, and collected under Title 59, Chapter 9, Taxation of Admitted Insurers, upon premiums for property insurance, as defined under Section 31A-1-301, and as applied to fire and allied lines insurance collected by insurance companies within the state; and
     (ii) 10% of all money assessed and collected under Title 59, Chapter 9, Taxation of Admitted Insurers, upon premiums for life insurance, as defined in Section 31A-1-301, within the state.
     (b) Payments to the fund shall be made annually until the service liability is liquidated, after which the tax revenue provided in this Subsection (6) for the Firefighters' Retirement Trust Fund ceases.

Amended by Chapter 262, 2004 General Session