Bill Text: AZ HB2146 | 2015 | Fifty-second Legislature 1st Regular | Introduced
Bill Title: PSPRS; service weapon; purchase
Spectrum: Moderate Partisan Bill (Republican 5-1)
Status: (Introduced - Dead) 2015-01-27 - Referred to House MAPS Committee [HB2146 Detail]
Download: Arizona-2015-HB2146-Introduced.html
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REFERENCE TITLE: PSPRS; service weapon; purchase |
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State of Arizona House of Representatives Fifty-second Legislature First Regular Session 2015
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HB 2146 |
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Introduced by Representatives Thorpe, Wheeler: Allen J, Barton, Fann, Livingston
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AN ACT
amending section 38‑845, Arizona Revised Statutes; relating to retirement benefits.
(TEXT OF BILL BEGINS ON NEXT PAGE)
Be it enacted by the Legislature of the State of Arizona:
Section 1. Section 38-845, Arizona Revised Statutes, is amended to read:
38-845. Amount of retirement benefit; purchase of firearms
A. A member who meets the requirements for a normal pension, who becomes a member of the system before January 1, 2012 and who has twenty years of credited service shall receive a monthly amount that equals fifty per cent percent of the member's average monthly benefit compensation. If the member retires with other than twenty years of credited service, the foregoing amount shall be:
1. Reduced by four per cent percent for each year of credited service under twenty years, with pro rata reduction for any fractional year.
2. Increased by a monthly amount equal to two per cent percent of the member's average monthly benefit compensation multiplied by the number of the member's years of credited service in excess of twenty years, with pro rata increase for any fractional year, except that if a member retires with twenty‑five or more years of credited service the amount shall be increased by a monthly amount equal to two and one‑half per cent percent of the member's average monthly benefit compensation multiplied by the number of the member's years of credited service in excess of twenty years, with pro rata increase for any fractional year. Notwithstanding the provisions of this subsection, the maximum amount payable as a normal pension shall be eighty per cent percent of the average monthly benefit compensation.
B. A member who meets the requirements for an accidental disability pension shall receive a monthly amount, which shall be computed in the same manner as a normal pension, using the member's average monthly benefit compensation before termination of employment and the member's actual credited service or twenty years of credited service, whichever is greater.
C. A member who meets the requirements for an ordinary disability pension shall receive a monthly amount that is equal to a fraction times the member's normal pension that is computed according to subsection A or G of this section if the member had twenty years of credited service. The fraction is the result obtained by dividing the member's actual years of credited service, not to exceed twenty years of credited service, by twenty.
D. A member who meets the requirements for a temporary disability pension shall receive a monthly amount that is equal to one‑twelfth of fifty per cent percent of the member's annual compensation received immediately prior to the date on which the member's disability was incurred.
E. A member who meets the requirements for a catastrophic disability pension is entitled to receive a monthly amount computed as follows:
1. For the first sixty months, ninety per cent percent of the member's average monthly benefit compensation before termination of employment.
2. After sixty months, sixty‑two and one‑half per cent percent of the member's average monthly benefit compensation before termination of employment or computed in the same manner as a normal pension using the member's average monthly benefit compensation before termination of employment and the member's actual credited service, whichever is greater.
F. A member who was employed before September 15, 1989 by an employer participating in the system and who retires on or after November 1, 2001 is entitled to receive a tax equity benefit allowance consisting of a permanent increase of two per cent percent of the member's base benefit retroactive to the day of retirement.
G. A member who meets the requirements for a normal pension, who becomes a member of the system on or after January 1, 2012 and who has twenty‑five years of credited service shall receive a monthly amount that equals sixty‑two and one‑half per cent percent of the member's average monthly benefit compensation. If the member retires with other than twenty‑five years of credited service, the foregoing amount shall be:
1. Reduced by four per cent percent for each year of credited service under twenty‑five years, with pro rata reduction for any fractional year.
2. Increased by a monthly amount equal to two and one‑half per cent percent of the member's average monthly benefit compensation multiplied by the number of the member's years of credited service in excess of twenty‑five years, with pro rata increase for any fractional year. Notwithstanding the provisions of this subsection, the maximum amount payable as a normal pension shall be eighty per cent percent of the average monthly benefit compensation.
H. In addition to the amounts received under subsection A, B, C, D, E or G of this section and subject to the approval of the employer, the pension includes the ability of a member to purchase the handgun or shotgun firearms issued by the employer to the member at less than fair market value a price determined by the administrator of the agency employing the member. For the purposes of this subsection "firearms" means any handguns, pistols, revolvers, rifles, shotguns or other weapons that will or are designed to or may readily be converted to expel a projectile by the action of expanding gases.
