Arizona Laws 38-805.01. Resignation; time frame; normal retirement pension; reemployment; employer contributions
A. Notwithstanding any age and service requirement specified in section 38-805, an elected official who is a member of the elected officials’ retirement plan and who gives an irrevocable notice of resignation on or before July 29, 2022 with a date of resignation and retirement of not later than September 30, 2022 may receive pension payments for normal retirement as specified in section 38-808 if the member meets either of the following:
Terms Used In Arizona Laws 38-805.01
- 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
- Employer: means a department, agency or political subdivision of this state that makes employer contributions to the plan pursuant to section 38-810 on behalf of an elected official who participates in the plan. 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
- System: means the public safety personnel retirement system. See Arizona Laws 38-801
1. Has attained fifty-five years of age with ten years of credited service.
2. Has attained fifty-nine and one-half years of age with five years of credited service.
B. Notwithstanding the reemployment provisions of section 38-804, a member who retires pursuant to this section and who subsequently becomes an elected official may not:
1. Make contributions to the plan.
2. Accrue credited service under the plan while the retired member is holding office.
3. Participate in the elected officials’ defined contribution retirement system established pursuant to article 3.1 of this chapter.
C. If a member retires pursuant to this section and subsequently becomes an elected official, regardless of when the retired member returns to work, the employer shall pay contributions at an alternate contribution rate as required and calculated pursuant to Section 38-810.04.