URS is an independent state agency established in 1987 to administer the systems, plans, and programs of the Utah State Retirement Systems (Utah Code 49-11-201). There have been various retirement systems for public employees throughout the 20th century. Originally conceived as local systems for teachers, other systems were added to cover other classes of public employees over the years. In 1963, a single board for all retirement systems is created and in 1967 the separate school and public retirement systems are consolidated and the Retirement Board gains custody of the retirement fund.