Full text of Utah Utah Code § 49-11-624 — Withdrawing entity -- Participation election date -- Withdrawal costs -- Rulemaking., with citation guidance and answers to common questions.
§ 49-11-624. Withdrawing entity -- Participation election date -- Withdrawal costs -- Rulemaking.
Effective 12/31/2017
49-11-624.
Withdrawing entity -- Participation election date -- Withdrawal costs -- Rulemaking.
| (1) |
As used in this section, "withdrawing entity" means the mutual corporation that is the successor to the quasi-public corporation created under Chapter 33, Workers' Compensation Fund, which is the chapter repealed by Laws of Utah 2017, Chapter 363. |
| (2) |
Notwithstanding any other provision of this title, a withdrawing entity may provide for the participation of its employees with that system or plan as follows:
| (a) |
the withdrawing entity shall determine a date that is no later than January 1, 2018, on which the withdrawing entity shall make an election under Subsection (3); and |
| (b) |
subject to Subsection (6), the withdrawing entity shall pay to the office any reasonable actuarial and administrative costs determined by the office to have arisen out of an election made under this section. |
|
| (3) |
The withdrawing entity described under Subsection (2) may elect to:
| (a) |
| (i) |
continue its participation for all current employees of the withdrawing entity, who are covered by a system or plan as of the date set under Subsection (2)(a); and |
| (ii) |
withdraw from participation in all systems or plans for all persons initially entering employment with the withdrawing entity, beginning on the date set under Subsection (2)(a); or |
|
| (b) |
withdraw from participation in all systems or plans for all current and future employees of the withdrawing entity, beginning on the date set under Subsection (2)(a). |
|
| (4) |
| (a) |
An election provided under Subsection (3):
| (i) |
is a one-time election made no later than the date specified under Subsection (2)(a); |
| (ii) |
shall be documented by a resolution adopted by the governing body of the withdrawing entity; |
| (iii) |
is irrevocable; and |
| (iv) |
applies to the withdrawing entity as the employer and to all employees of the withdrawing entity. |
|
| (b) |
Notwithstanding an election made under Subsection (3), any eligibility for service credit earned by an employee under this title before the date specified under Subsection (2)(a) is not affected by this section. |
|
| (5) |
If a withdrawing entity elects to continue participation under Subsection (3), the withdrawing entity shall continue to be subject to the laws and the rules governing the system or plan in which an employee participates, including the accrual of service credit and payment of contributions. |
| (6) |
Before a withdrawing entity may withdraw under this section, the withdrawing entity and the office shall enter into an agreement on:
| (a) |
the costs described under Subsection (2)(b); and |
| (b) |
arrangements for the payment of the costs described under Subsection (2)(b). |
|
| (7) |
The board shall make rules to implement this section. |
Revisor instructions Chapter
273, 2018 General Session
Revisor instructions Chapter
363, 2017 General Session
Enacted by Chapter
363, 2017 General Session
Revisor instruction to modify language.
Frequently Asked Questions About Utah § 49-11-624
What does Utah Code § 49-11-624 cover?
Section 49-11-624 ("Withdrawing entity -- Participation election date -- Withdrawal costs -- Rulemaking.") is part of the Utah Code, the codified statutory law of Utah. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Utah § 49-11-624?
A common citation format is "Utah Code § 49-11-624" (Utah). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Utah law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Utah official source linked on this page or consult a licensed Utah attorney.
How does Utah § 49-11-624 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Utah can advise on how this section applies to you. Contact your state or local bar association for a referral.
