Please help us by accurately using terms related to URS. Here are some excerpts from our company style guide.
Utah Retirement Systems » URS acceptable in second reference. Incorrect: The Utah Retirement Systems. The URS. Acceptable: The retirement systems. Possessive: URS’.
PEHP Health & Benefits » The preferred term for the insurance division of URS. Often referred to outside of Utah as "Utah PEHP." PEHP acceptable on second reference.
Tier 1 » Refers to the pension retirement systems for employees with service credit before July 1, 2011. Systems include: Noncontributory, Contributory, Public Safety, Firefighters, Judges, and Utah Governors and Legislators.
Tier 2 » Refers to the retirement systems for employers without service credit before July 1, 2011. Brought about by SB 63, Tier 2 includes the Tier 2 Public Employees Contributory Retirement System and the Tier 2 Public Safety and Firefighter Contributory Retirement System. Tier 2 employees choose, within the first year of their employment, a defined contribution-only plan or a hybrid plan that includes a pension.
Self-funded » PEHP administers only self-funded medical and dental plans. With a self-funded plan, an employer puts money into a trust (PEHP) to pay claims. Any money that isn’t used to pay claims is returned. It’s unlike fully insured arrangements, where the insurance company keeps the difference (profit). "Self-funded" preferred over “self-insured” when referring to PEHP health plans.