{"data":{"id":"us-ut/utah-code-67-19d-202","jurisdiction":"us-ut","citation":"Utah Code § 67-19d-202","heading":"Board of trustees of the State Post-Retirement Benefits Trust Fund and the Elected Official Post-Retirement Benefits Trust Fund.","body":"(1)\n(a) There is created a board of trustees of the State Post-Retirement Benefits Trust Fund and the Elected Official Post-Retirement Benefits Trust Fund composed of three members:\n(i) the state treasurer or designee;\n(ii) the director of the Division of Finance or designee; and\n(iii) the executive director of the Governor's Office of Planning and Budget or designee.\n(b) The state treasurer is chair of the board.\n(c) Three members of the board are a quorum.\n(d) A member may not receive compensation or benefits for the member's service, but may receive per diem and travel expenses in accordance with:\n(i) Section 63A-3-106;\n(ii) Section 63A-3-107; and\n(iii) rules made by the Division of Finance pursuant to Sections 63A-3-106 and 63A-3-107.\n(e)\n(i) Except as provided in Subsection (1)(e)(ii), the state treasurer shall staff the board of trustees.\n(ii) The Division of Finance shall provide accounting services for the trust fund.\n(2) The board shall:\n(a) on behalf of the state, act as trustee of the State Post-Retirement Benefits Trust Fund created under Section 67-19d-201 and the Elected Official Post-Retirement Benefits Trust Fund created under Section 67-19d-201.5 and exercise the state's fiduciary responsibilities;\n(b) meet at least twice per year;\n(c) review and approve all policies, projections, rules, criteria, procedures, forms, standards, performance goals, and actuarial reports;\n(d) review and approve the budget for each trust fund described under Subsection (2)(a);\n(e) review financial records for each trust fund described under Subsection (2)(a), including trust fund receipts, expenditures, and investments;\n(f) commission and obtain actuarial studies of the liabilities for each trust fund described under Subsection (2)(a);\n(g) for purposes of the State Post-Retirement Benefits Trust Fund, establish labor additive rates to charge all federal, state, and other programs to cover:\n(i) the annual required contribution as determined by actuary; and\n(ii) the administrative expenses of the trust fund; and\n(h) do any other things necessary to perform the state's fiduciary obligations under each trust fund described under Subsection (2)(a).\n(3) The attorney general shall:\n(a) act as legal counsel and provide legal representation to the board of trustees; and\n(b) attend, or direct an attorney from the Office of the Attorney General to attend, each meeting of the board of trustees.","path":["Title 67 State Officers and Employees","Chapter 67-19d State Post-Retirement Benefits Trust Fund Act","Part 67-19d-2 Creation and Governance of the Post-Retirement Benefits Trust Fund"],"source_url":"https://le.utah.gov/xcode/Title67/Chapter19d/67-19d-S202.html","current_through":"2026 General Session","vintage":"","retrieved_at":"2026-09-03T11:34:34Z","sha256":"b7c1fa1e4a27143e8f6d65e1154280a47f5c55a541192d3ace8ddb4c04ab1234","source_id":"us-ut","stale":false,"prev":"us-ut/utah-code-67-19d-201.5","next":"us-ut/utah-code-67-19d-301"},"notice":"GroundRules: Original legal text. Not legal advice."}