Representative Rich Cunningham (R)-South Jordan is sponsoring HB 86 3rd Substitute, Postretirement Employment Restrictions.
Currently, a retiree who returns to work must wait 12 months in order to be reemployed with a URS entity.
3rd Sub. HB 86 allows a retiree to be reemployed with a participating employer after 60 days from the retiree’s retirement date. However, rehired retired employees will continue to receive their pension benefit while working, but will not earn additional years of service credit. In addition, rehired retired employees must be reemployed at a different agency. This bill also requires the agency that rehired the retired employee to continue paying the employer retirement contributions.
On Friday March 4th Rep. Cunningham introduced 3rd Substitute HB 86 to the Senate Government Operations Committee. The bill was held in committee as members felt they needed more time to evaluate financial impact of the substitute bill.
UPEA will keep members updated as it goes through the legislative process.