Retirement Amendments

HB 25 amends Utah's retirement system to update record-keeping rules for participating employers and clarify withdrawal procedures for certain entities. It extends the required record retention period from 3 to 4 years after employee retirement or death, modifies eligibility for entities withdrawing from the retirement system (including nonprofits and mental health providers), and repeals a provision about opioid prescribing policies (unrelated to retirement administration). These changes affect public employers, retirement systems, and entities seeking to withdraw from participation. The bill takes effect July 1, 2025, and was signed into law on March 20, 2025.