Bill Text: AZ SB1152 | 2016 | Fifty-second Legislature 2nd Regular | Introduced
Bill Title: PSPRS; EORP; CORP; continuation
Spectrum: Partisan Bill (Republican 1-0)
Status: (Passed) 2016-05-17 - Chapter 306 [SB1152 Detail]
Download: Arizona-2016-SB1152-Introduced.html
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REFERENCE TITLE: PSPRS; EORP; CORP; continuation |
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State of Arizona Senate Fifty-second Legislature Second Regular Session 2016
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SB 1152 |
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Introduced by Senator Lesko
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AN ACT
Repealing section 41‑3016.18, Arizona Revised Statutes; amending title 41, chapter 27, article 2, Arizona Revised Statutes, by adding section 41‑3024.09; relating to the public safety personnel retirement system board of trustees.
(TEXT OF BILL BEGINS ON NEXT PAGE)
Be it enacted by the Legislature of the State of Arizona:
Section 1. Repeal
Section 41-3016.18, Arizona Revised Statutes, is repealed.
Sec. 2. Title 41, chapter 27, article 2, Arizona Revised Statutes, is amended by adding section 41-3024.09, to read:
41-3024.09. Public safety personnel retirement system board of trustees; elected officials' retirement plan; public safety personnel retirement system; corrections officer retirement plan; termination July 1, 2024
A. The public safety personnel retirement system board of trustees terminates on July 1, 2024.
B. Title 38, chapter 5, article 3 is repealed on January 1, 2025.
C. Title 38, chapter 5, article 4 is repealed on January 1, 2025.
D. Title 38, chapter 5, article 6 is repealed on January 1, 2025.
Sec. 3. Purpose
Pursuant to section 41-2955, subsection B, Arizona Revised Statutes, the legislature continues the public safety personnel retirement system board of trustees in order to manage and invest employee and employer contributions and assets and distribute retirement benefits to retired members of the elected officials' retirement plan, the public safety personnel retirement system and the corrections officer retirement plan.
Sec. 4. Retroactivity
Sections 1 and 2 of this act are effective retroactively to July 1, 2016.
