Arizona Laws 38-870.04. Employer and participant contributions
A. Beginning July 1, 2017, employers shall contribute the percentage of the gross pensionable compensation of all of the participants under their employment so that the total employer contributions equals the amount that the board determines is necessary to pay one-half of all benefits under and costs of administering the disability program.
Terms Used In Arizona Laws 38-870.04
- Action: includes any matter or proceeding in a court, civil or criminal. See Arizona Laws 1-215
- Board: means the board of trustees established by section 38-848. See Arizona Laws 38-870
- including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Participant: means a participant who is in the public safety personnel defined contribution retirement plan and who is a participant as defined in section 38-865, paragraph 7, subdivision (a), item (i) or subdivision (b). See Arizona Laws 38-870
- Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215
- program: means the public safety personnel defined contribution retirement plan disability program established by this article. See Arizona Laws 38-870
B. Beginning July 1, 2017, a participant shall contribute a percentage of the participant’s gross pensionable compensation equal to the employer contribution for the participant required pursuant to subsection A of this section.
C. The employer shall pay the participant contributions required of participants on account of gross pensionable compensation earned. All employer and participant contributions shall be paid to the board. The board shall allocate the contributions to the disability program trust fund and shall place the contributions in the disability program’s depository.
D. Each employer shall certify on each payroll the amount to be contributed to the disability program and shall remit that amount to the board.
E. The department of administration and the treasurer of each county and participating city and town shall transfer to the board the contributions provided for in subsections A and B of this section within ten working days after each payroll date. Contributions transferred after these dates shall include a penalty equal to ten percent per annum, compounded annually, for each day that the contributions are late. Delinquent payments due under this subsection, together with interest charges as provided in this subsection and court costs, may be recovered by action in a court of competent jurisdiction against the person or persons responsible for the payments or, at the request of the board, may be deducted from any other monies, including excise revenue taxes, payable to a political subdivision by any department or agency of this state.
F. If more than the correct amount of contributions required is paid by an employer, proper adjustment shall be made in connection with subsequent payments. The board shall return excess contributions to the employer if the employer requests return of the contributions within one year after the date of overpayment.
G. Participant contributions are not refundable.