HB 2206
Initials VP/MG Page 1 House Engrossed
ARIZONA HOUSE OF REPRESENTATIVES
Fifty-sixth Legislature
Second Regular Session
House: WM DP 10-0-0-0
HB 2206: ASRS; contingent annuitants
Sponsor: Representative Livingston, LD 28
House Engrossed
Overview
Updates the person a member elects as a beneficiary or beneficiaries to contingent annuitants
and clarifies that a member who chooses an Optional Premium Benefit (OPB) may only
identify one contingent annuitant to receive the benefit after the retiree's death.
History
On retirement, there are optional forms of retirement benefits. One of which allows for a
period certain and life annuity actuarially reduced with payments for five, ten or fifteen years
that are not dependent on the continued lifetime of the member but whose payments continue
for the member's lifetime beyond the five, ten or fifteen year period. If this option is elected,
the member provides a period certain beneficiary or beneficiaries who are entitled to receive
these payments for any portion of the period certain beyond the lifetime of the member
(A.R.S. § 38-760).
Contingent annuitant means the person named by a member to receive retirement income
payable following a member's death after retirement (A.R.S. § 38-711).
Provisions
1. Renames the person a member elects from beneficiary or beneficiaries to contingent
annuitant. (Sec. 1)
2. Clarifies that a member who chooses an OPB may only identify one contingent annuitant
to receive the OPB after the retiree's death. (Sec. 2)
3. Makes technical and conforming changes. (Sec. 1)
☐ Prop 105 (45 votes) ☐ Prop 108 (40 votes) ☐ Emergency (40 votes) ☐ Fiscal Note