Section 67-19d-202 - Board of trustees of the State Post-Retirement Benefits Trust Fund and the Elected Official Post-Retirement Benefits Trust Fund(1)(a) There is created a board of trustees of the State Post-Retirement Benefits Trust Fund and the Elected Official Post-Retirement Benefits Trust Fund composed of three members: (i) the state treasurer or designee;(ii) the director of the Division of Finance or designee; and(iii) the executive director of the Governor's Office of Planning and Budget or designee.(b) The state treasurer is chair of the board.(c) Three members of the board are a quorum.(d) A member may not receive compensation or benefits for the member's service, but may receive per diem and travel expenses in accordance with: (ii) Section 63A-3-107; and(iii) rules made by the Division of Finance pursuant to Sections 63A-3-106 and 63A-3-107.(e)(i) Except as provided in Subsection (1)(e)(ii), the state treasurer shall staff the board of trustees.(ii) The Division of Finance shall provide accounting services for the trust fund.(2) The board shall: (a) on behalf of the state, act as trustee of the State Post-Retirement Benefits Trust Fund created under Section 67-19d-201 and the Elected Official Post-Retirement Benefits Trust Fund created under Section 67-19d-201.5 and exercise the state's fiduciary responsibilities;(b) meet at least twice per year;(c) review and approve all policies, projections, rules, criteria, procedures, forms, standards, performance goals, and actuarial reports;(d) review and approve the budget for each trust fund described under Subsection (2)(a);(e) review financial records for each trust fund described under Subsection (2)(a), including trust fund receipts, expenditures, and investments;(f) commission and obtain actuarial studies of the liabilities for each trust fund described under Subsection (2)(a);(g) for purposes of the State Post-Retirement Benefits Trust Fund, establish labor additive rates to charge all federal, state, and other programs to cover: (i) the annual required contribution as determined by actuary; and(ii) the administrative expenses of the trust fund; and(h) do any other things necessary to perform the state's fiduciary obligations under each trust fund described under Subsection (2)(a).(3) The attorney general shall: (a) act as legal counsel and provide legal representation to the board of trustees; and(b) attend, or direct an attorney from the Office of the Attorney General to attend, each meeting of the board of trustees.Amended by Chapter 310, 2013 General Session ,§ 73, eff. 5/14/2013.Amended by Chapter 376, 2012 General Session ,§ 3, eff. 3/23/2012.Amended by Chapter 286, 2010 General Session