19-3-2103. Legislative intent.
147 words·~1 min read·
/mt/title-19/chapter-3/part-21/19-3-2103A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
19-3-2103 . Legislative intent. It is the intent of the legislature that, in implementing and administering the defined contribution plan:
(1)changes to current administrative processes and the impact of those changes on employers be minimized to the extent possible;
(2)the administrative structure for the plan be configured in an economical and efficient manner;
(3)administration and services for the plan be contracted out to the extent possible, but that the board provide for the diligent oversight of the contracts;
(4)reasonable member services be provided for and that fees be commensurate with the services;
(5)lines of communication and responsibilities be clearly established so that employers or their personnel and payroll officers do not advise members about plan choices or investment alternatives; and
(6)employers be encouraged to provide paid time for members to attend educational programs sponsored by the board pursuant to 19-3-112 .