Arizona Laws 38-896. Taxation of pensions; exemption for contributions
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The participating employer contributions and the assets of the fund are exempt from state, county and municipal taxes. Member contributions made to the fund after December 31, 1974 and subsequently withdrawn from the fund as other than a pension and benefits and pensions received by a member from the fund after December 31, 1988 are subject to tax pursuant to title 43.
Terms Used In Arizona Laws 38-896
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Employer: means an agency or department of this state or a political subdivision of this state that has one or more employees in a designated position. See Arizona Laws 38-881
- Fund: means the corrections officer retirement plan fund. See Arizona Laws 38-881
- Pension: means a series of monthly payments by the retirement plan but does not include an annuity that is payable pursuant to section 38-911. See Arizona Laws 38-881