HB 2206
Initials VP/MG Page 1 Transmitted
ARIZONA HOUSE OF REPRESENTATIVES
Fifty-sixth Legislature
Second Regular Session
House: WM DP 10-0-0-0 | 3
rd
Read 55-0-4-0-1 | FINAL 51-8-0-0-1
Senate: FICO DPA 6-0-1-0 | 3
rd
Read 28-0-2-0-0
HB 2206: ASRS; contingent annuitants; account information
Sponsor: Representative Livingston, LD 28
Transmitted to the Governor
Overview
Clarifies ASRS information regarding contingent annuitants and a member's current or
former spouse.
History
A member with ASRS must name and maintain their spouse as a beneficiary to receive at
least 50% of the member's account. ASRS is currently not permitted to inspect specific
information about a member, which includes the value of a member's benefit (A.R.S. § 38-
755).
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. Authorizes ASRS to provide the value of a member's benefit to a member's current or
former spouse on receipt of proof or service of a petition or annulment, dissolution of
marriage or legal separation. (Sec. 1)
2. Renames the person a member elects from beneficiary or beneficiaries to contingent
annuitant. (Sec. 2)
3. Clarifies that a member who chooses an OPB may only identify one contingent annuitant
to receive the OPB after the retiree's death. (Sec. 3)
4. Makes technical and conforming changes. (Sec. 1, 2)
☐ Prop 105 (45 votes) ☐ Prop 108 (40 votes) ☐ Emergency (40 votes) ☐ Fiscal Note