As used in this title: (1) (a) "Active member" means a member who: (i) is employed by a participating employer and accruing service credit; or (ii) within the previous 120 days: (A) has been employed by a participating employer; and (B) accrued service credit. (b) "Active member" does not include a retiree. (2) "Actuarial equivalent" means a benefit of equal value when computed upon the basis of mortality tables as recommended by the actuary and adopted by the executive director, including regular interest. (3) "Actuarial interest rate" means the interest rate as recommended by the actuary and adopted by the board upon which the funding of system costs and benefits are computed. (4) (a) "Agency" means: (i) a department, division, agency, office, authority, commission, board, institution, or hospital of the state; (ii) a county, municipality, school district, special district, or special service district; (iii) a state college or university; or (iv) any other participating employer. (b) "Agency" does not include an entity listed under Subsection (4)(a)(i) that is a subdivision of another entity listed under Subsection (4)(a). (5) "Allowance" or "retirement allowance" means the pension plus the annuity, including any cost of living or other authorized adjustments to the pension and annuity. (6) "Alternate payee" means a member's former spouse or family member eligible to receive payments under a Domestic Relations Order in compliance with Section 49-11-612. (7) "Amortization rate" means the board certified percent of salary required to amortize the unfunded actuarial accrued liability in accordance with policies established by the board upon the advice of the actuary. (8) "Annuity" means monthly payments derived from member contributions. (9) "Appointive officer" means an employee appointed to a position for a definite and fixed term of office by official and duly recorded action of a participating employer whose appointed position is designated in the participating employer's charter, creation document, or similar document, and: (a) who earns $500 or more per month, indexed as of January 1, 1990, as provided in Section
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