HB 2009
Initials VP/AA Page 1 House Engrossed
ARIZONA HOUSE OF REPRESENTATIVES
Fifty-sixth Legislature
First Regular Session
House: WM DP 10-0-0-0 | 3
rd
Read 60-0-0-0
HB 2009: ASRS; retirement application; changes
Sponsor: Representative Livingston, LD 28
House Engrossed
Overview
Allows members to change retirement application information within 60 days of the member's
retirement date.
History
The Arizona State Retirement System (ASRS) is a benefit plan designed to provide benefits to
members entitled to benefits under their defined contribution program. The ASRS aims to provide
an incentive for recruiting high quality employees, encourage employees to remain in service for
periods of time that will provide public employers with the full benefit of the employee training and
experience and contribute toward providing a total compensation package that is generally
equivalent to comparable employment in other public and private organizations in this state.
(A.R.S. § 38-712)
To create a degree of security for ASRS members, a public employee's retirement trust fund was
established. All assets and monies of the ASRS are a part of the trust fund as well as all accounts,
depositories and funds. (A.R.S. § 38-712)
Provisions
1. Allows members to make changes to a retirement application before the member's retirement
date. (Sec. 2)
2. Grants members a one-time election to make changes to their retirement application within
60 days after the member's retirement date. (Sec. 2)
3. Specifies that any changes made to the retirement application are retroactive to the members
retirement date. (Sec. 2)
4. Makes conforming changes. (Sec. 1, Sec. 2)
☐ Prop 105 (45 votes) ☐ Prop 108 (40 votes) ☐ Emergency (40 votes) ☐ Fiscal Note