Purchases of service credit beginning January 1, 2011, will be calculated using a new actuarial formula adopted by the Utah Retirement Board. The Board will phase in the new purchase cost over two years with full implementation effective January 1, 2013.

A new web-based Service Purchase Estimate Calculator is available for members to calculate the cost of purchasing service credit, paid for on or after January 1, 2011, in a Public Employees' Contributory Retirement System and Public Employees' Noncontributory Retirement System.

For members in other retirement systems we anticipate having this calculator available in a few months.

If you have questions about purchasing service credit, please call 801-366-7770 or 1-800-695-4877.

Senate Bills 43 and 63 passed in the 2010 Legislative Session. Learn how this legislation may impact you, as a member of Utah Retirement Systems:

      • Senate Bill 43 Summary
      • Senate Bill 63 Summary

In recent weeks some members have expressed concern about the effect of the current economic situation on the health of the Utah Retirement Systems (URS) Retirement Fund.

We assure our retired members that they will continue to receive their monthly pension payment, whether mailed or deposited electronically, on the last business day of the month. Future retirees will also receive the monthly pension payment to which they are entitled. The URS Retirement Fund is a defined benefit program, meaning investment gains or losses do not affect the retirement benefits paid to members.

The long-term investment strategy of the URS Retirement Fund anticipates fluctuating markets. By diversifying its holdings the Fund cushions the effects of unfavorable markets.

Many members also have URS 401(k) or 457 accounts. Unlike a defined benefit program, these accounts reflect the day-to-day performance of the financial markets. History has shown that declining markets will recover. We encourage members to maintain an investment strategy consistent with their risk tolerance and retirement time horizon.