Utah § 49-23-504 Death of members -- Exemption from vesting requirements for employer nonelective contributions to defined contribution plan.

Utah Statutes

§ 49-23-504 — Death of members -- Exemption from vesting requirements for employer nonelective contributions to defined contribution plan.

Utah·Title 49 Utah State Retirement and Insurance Benefit Act·Ch. 49-23 New Public Safety and Firefighter Tier II Contributory Retirement Act·Part 49-23-5 Death Benefit

(1)(1)(a) If an active member dies, employer nonelective contributions made on behalf of the employee to a defined contribution plan under Section 49-23-302 or 49-23-401 are exempt from the vesting requirements of Subsections 49-23-302(2)(a) and 49-23-401(3)(a).

(1)(b) The total amount of nonelective contributions made by the participating employer vests to the member upon death and the member's beneficiary is entitled to receive a distribution of the employer contributions made on behalf of the employee and all associated investment gains and losses.

(2)Employer contributions vested and distributed under this section are in addition to and separate from the benefits payable under Sections 49-23-501, 49-23-502, and 49-23-503.

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(1) (1)(a) If an active member dies, employer nonelective contributions made on behalf of the employee to a defined contribution plan under Section 49-23-302 or 49-23-401 are exempt from the vesting requirements of Subsections 49-23-302(2)(a) and 49-23-401(3)(a).
(1)(b) The total amount of nonelective contributions made by the participating employer vests to the member upon death and the member's beneficiary is entitled to receive a distribution of the employer contributions made on behalf of the employee and all associated investment gains and losses.
(2) Employer contributions vested and distributed under this section are in addition to and separate from the benefits payable under Sections 49-23-501, 49-23-502, and 49-23-503.

Utah § 49-23-504 (Death of members -- Exemption from vesting requirements for employer nonelective contributions to defined contribution plan.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.