Assigned to APPROP AS PASSED BY COMMITTEE
ARIZONA STATE SENATE
Fifty-Fifth Legislature, Second Regular Session
AMENDED
FACT SHEET FOR S.B. 1087
appropriations; unfunded liability; corrections; safety
Purpose
Appropriates $1,051,378,700 from the state General Fund (state GF) and $15,000,000 from
the Game and Fish Fund in FY 2022 to the Public Safety Personnel Retirement System (PSPRS)
to reduce the unfunded accrued liability of outlined employer accounts.
Background
Established in 1968, PSPRS provides a uniform, consistent and equitable statewide
retirement program for public safety personnel who are regularly assigned hazardous duties in the
employ of the State of Arizona or a political subdivision. PSPRS functions as either a defined
benefit plan or a defined contribution plan (A.R.S. § 38-841).
Established in 1986, the Corrections Officer Retirement Plan (CORP) provides retirement
and disability benefits for correctional officers and employees as well as county, city or town
detention officers, dispatchers, probation officers and surveillance officers (A.R.S. § 38-881).
As of June 30, 2021, the funded status of the PSPRS Department of Public Safety (DPS)
Group is 69.2 percent and the Arizona Department of Corrections (ADC) CORP Group is 78.8
percent (PSPRS).
S.B. 1087 appropriates $1,051,378,700 from the state GF in FY 2022 to PSPRS.
Provisions
1. Appropriates $420,559,600 from the state GF in FY 2022 to PSPRS to be deposited in the
employer account of the DPS PSPRS Group to reduce the unfunded accrued liability.
2. Appropriates $474,635,300 from the state GF in FY 2022 to PSPRS to be deposited in the
employer account of the ADC CORP Group to reduce the unfunded accrued liability.
3. Appropriates $15,000,000 from the Game and Fish Fund and $82,243,000 from the state GF
in FY 2022 to PSPRS to be deposited in the employer account of the Arizona Game and Fish
Department to reduce the unfunded accrued liability.
4. Appropriates $73,940,800 from the state GF in FY 2022 to PSPRS to be deposited in the
employer account of the Juvenile Corrections CORP Group to reduce the unfunded accrued
liability. FACT SHEET – Amended
S.B. 1087
Page 2
5. Requires the PSPRS Board of Trustees (Board) to account for the appropriations in the June
30, 2022, actuarial valuation of both the DPS and ADC Groups.
6. Requires the Board to account for the appropriations when calculating employee and employer
contribution rates for the DPS and ADC Groups in FY 2024.
7. Becomes effective on signature of the Governor.
Amendments Adopted by Committee
1. Changed the appropriation amount to the DPS PSPRS Group and ADC CORP Group.
2. Appropriates $15,000,000 from the Game and Fish Fund and $82,243,000 from the state GF
in FY 2022 to PSPRS.
3. Appropriates $73,940,800 from the state GF in FY 2022 to PSPRS to be deposited in the
Juvenile Corrections CORP Group.
4. Makes conforming changes.
Senate Action
APPROP 1/25/21 DPA 9-0-1
Prepared by Senate Research
January 26, 2022
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