49-11-103 - Purpose -- Liberal construction.
49-11-103. Purpose -- Liberal construction.
(1) The purpose of this title is to establish:
(a) retirement systems and the Utah Governors' and Legislators' Retirement Plan formembers which provide:
(i) a uniform system of membership;
(ii) retirement requirements;
(iii) benefits for members;
(iv) funding on an actuarially sound basis;
(v) contributions; and
(vi) economy and efficiency in public service; and
(b) a central administrative office and a board to administer the various systems, plans,and programs established by the Legislature or the board.
(2) This title shall be liberally construed to provide maximum benefits and protectionsconsistent with sound fiduciary and actuarial principals.
Renumbered and Amended by Chapter 250, 2002 General Session