REFERENCE TITLE: continuation; ASRS

 

 

 

 

State of Arizona

House of Representatives

Fifty-sixth Legislature

Second Regular Session

2024

 

 

 

HB 2208

 

Introduced by

Representative Livingston

 

 

 

 

 

 

 

 

An Act

 

repealing section 41-3024.26, Arizona Revised Statutes; amending title 41, chapter 27, article 2, Arizona Revised Statutes, by adding section 41-3032.26; relating to the Arizona state retirement system.

 

 

(TEXT OF BILL BEGINS ON NEXT PAGE)

 

Be it enacted by the Legislature of the State of Arizona:

Section 1. Repeal

Section 41-3024.26, Arizona Revised Statutes, is repealed.

Sec. 2. Title 41, chapter 27, article 2, Arizona Revised Statutes, is amended by adding section 41-3032.26, to read:

START_STATUTE41-3032.26. Arizona state retirement system; termination July 1, 2032

A. The Arizona state retirement system board and director terminate on July 1, 2032.

B. Title 38, chapter 5, articles 2 and 2.1 and this section are repealed on January 1, 2033.END_STATUTE

Sec. 3. Purpose

Pursuant to section 41-2955, subsection B, Arizona Revised Statutes, the legislature continues the Arizona state retirement system board and director in order to collect, manage and invest employee and employer contributions and assets and distribute retirement, health insurance, long-term disability and defined contribution benefits to members of the system and plan and nonmember participants in defined contribution plans.

Sec. 4. Retroactivity

Sections 1 and 2 of this act apply retroactively to from and after July 1, 2024.