Arizona Laws 38-805. Normal retirement and early retirement pensions
A. A member who becomes a member of the plan before January 1, 2012 and who ceases to hold office is eligible for a normal retirement pension, if the member satisfies one of the following requirements:
Terms Used In Arizona Laws 38-805
- Credited service: means the number of whole and fractional years of a member's service as an elected official after the elected official's effective date of participation for which member and employer contributions are on deposit with the fund, plus credited service transferred to the plan from another retirement system or plan for public employees of this state, plus service as an elected official before the elected official's effective date of participation that is being funded pursuant to a joinder agreement pursuant to section 38-815 or service that was redeemed pursuant to section 38-816. See Arizona Laws 38-801
- Elected official: means :
(a) Every elected official of this state who was a member of the plan on December 31, 2013. See Arizona Laws 38-801
- Pension: means a series of monthly payments to a person who is entitled to receive benefits under the plan. See Arizona Laws 38-801
- Plan: means the elected officials' retirement plan. See Arizona Laws 38-801
- Retired member: means a person who is being paid a pension based on the person's credited service as a member of the plan. See Arizona Laws 38-801
1. Has attained age sixty-five with five or more years of credited service.
2. Has attained age sixty-two with ten or more years of credited service.
3. Has twenty or more years of credited service.
B. A member who becomes a member of the plan on or after January 1, 2012 and who ceases to hold office is eligible for a normal retirement pension, if the member satisfies one of the following requirements:
1. Has attained age sixty-five with five or more years of credited service.
2. Has attained age sixty-two with ten or more years of credited service.
C. A member who becomes a member of the plan before January 1, 2012, who has at least five years of credited service and who ceases to hold office as an elected official may take early retirement.
D. On normal or early retirement, a retired member shall receive a pension computed pursuant to section 38-808, subsection B or C until the member’s death.