Arizona Laws 38-876. Deferred compensation plan; administration
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A. The board shall establish, design and administer a deferred compensation plan in which a participant may participate.
Terms Used In Arizona Laws 38-876
- Board: means the board of trustees of the public safety personnel retirement system established by section 38-848. See Arizona Laws 38-875
- Deferred compensation plan: means an eligible deferred compensation plan as defined in section 457(b) of the internal revenue code. See Arizona Laws 38-875
- including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
- Participant: means any individual who is employed by an employer and who is enrolled in one of the retirement systems or plans administered by the board. See Arizona Laws 38-875
B. The board, in the administration, management and operation of the deferred compensation plan, may:
1. Employ services as it deems necessary, including legal services, for the operation and administration of the deferred compensation plan.
2. Administer the deferred compensation plan through contracts with multiple vendors.
3. Perform all acts that it deems necessary and proper for the operation and protection of the deferred compensation plan.