Terms Used In Arizona Laws > Title 38 > Chapter 5 > Article 7.1 - Arizona Employers' Pension Prefunding

• Action: includes any matter or proceeding in a court, civil or criminal. See Arizona Laws 1-215
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Board: means the board of trustees of the system. See Arizona Laws 38-931
• Contract: A legal written agreement that becomes binding when signed.
• Defined benefit pension: means the elected officials' retirement plan established by article 3 of this chapter, the public safety personnel retirement system established by article 4 of this chapter and the corrections officer retirement plan established by article 6 of this chapter. See Arizona Laws 38-931
• Employer: means an employer as defined in section 38-801, 38-842 or 38-881. See Arizona Laws 38-931
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Fiduciary: A trustee, executor, or administrator.
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
• including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Participating employer: means an employer that is authorized and has elected to participate in the prefunding plan and whose governing body has entered into a contract with the board as provided in this article. See Arizona Laws 38-931
• Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215
• Prefunding plan: means the Arizona employers' pension prefunding plan established by this article. See Arizona Laws 38-931
• Process: means a citation, writ or summons issued in the course of judicial proceedings. See Arizona Laws 1-215
• Required pension contributions: means an employer's unfunded liability and future required contributions under the applicable defined benefit pension, whether pertaining to a single year or multiple years. See Arizona Laws 38-931
• System: means the public safety personnel retirement system. See Arizona Laws 38-931
• Trustee: A person or institution holding and administering property in trust.
• United States: includes the District of Columbia and the territories. See Arizona Laws 1-215