As of December 31, 2014, the URS was managing over $31 billion in its pension trust funds, for nearly 200,000 members.
The two largest systems are the Public Employees Noncontributory Retirement Systems, Tier I and Tier II, with 463 participating employers including all of Utah's school districts, the State of Utah, and its counties and various political subdivisions.
[3] URS is run by a seven-member board whose members are appointed by the governor.
In addition to the Retirement Board, there is an advisory Membership Council made up of representatives from the member employee groups.
[4] Many public employees in Utah had some kind of pension before the creation of the URS in 1963.
[5] In 1934, the Utah Education Association drew up a plan for a retirement system for teachers.
Also, optional state coverage was established for judges and local government employees.
[5] In 1963, joint administration was established for public employees and teachers systems.