(1) If the premium tax revenue received by the office under Subsection 49-11-901.5(1) and first paid in accordance with Subsections 49-11-901.5(2)(a) and (b), including any remaining amount, the office shall deposit the amount in the: (a) Public Safety Contributory Trust Fund created under Section 49-14-104; and (b) Public Safety Noncontributory Retirement Trust Fund created under Section 49-15-104. (2) The money deposited under this section shall be used to fund an increase for retirees in the public safety retirement systems from a 2.5% maximum annual cost-of-living adjustment to a 4% maximum annual cost-of-living adjustment under Sections 49-14-403 and 49-15-403 in the public safety retirement systems. (3) As required to implement this section, the office shall make the calculations and deposits for the equitable apportionment of money between: (a) Division A1 and B1; and (b) the contributory and noncontributory trust funds. Repealed 7/1/2026
‹ Prev All Utah sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.