Utah Code § 49-11-1307: Phased retirement -- Adjustments or termination.

(1) The Legislature may make adjustments to or terminate the phased retirement option created under this part, including:

(a) amending phased retirement eligibility, restrictions, scope, or duration provisions;

(b) closing phased retirement to additional retirees; or

(c) terminating phased retirement for all participating retirees.

(2) A participating employer and retiree enter into a phased retirement agreement subject to the adjustments or termination reserved in this section.