HB 2329
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ARIZONA HOUSE OF REPRESENTATIVES
Fifty-sixth Legislature
Second Regular Session
House: MAPS DPA/SE 13-0-2-0
HB 2329: procurement; director; technical correction
S/E: CORP; employee enrollment; membership; election
Sponsor: Representative Payne, LD 27
Caucus & COW
Summary of the Strike-Everything Amendment to HB 2329
Overview
Permits corrections and detention employees in this state to elect to participate in either the
Corrections Officer Retirement Plan (CORP) or the Public Safety Personnel Defined
Contribution Retirement Plan (PSPDCP).
History
CORP is a defined benefits plan administered by the Public Safety Personnel Retirement
System (PSPRS). A defined benefits plan promises a specified monthly benefit at retirement;
the benefit is calculated based on a formula of salary and service. The contribution rate to
CORP is calculated based on 66.7% of the normal cost plus 50% of specified unfunded accrued
liability, which means that its contribution rate fluctuates year-to-year (A.R.S. Title 38,
Chapter 5, Article 7).
PSPDCP is a defined contribution plan administered by Nationwide Retirement Solutions. A
defined contributions plan does not promise a specific amount of benefits at retirement.
PSPDCP is a tax-deferred qualified retirement plan; contributions are matched by the
employer up to 5%. Contributions to this plan are invested, and the benefit is determined
based on contributions and investment earnings (A.R.S. Title 38, Chapter 5, Article 4.1).
Pursuant to A.R.S. § 38-8810.01, specified corrections and detention employees (Officers)
hired on or after July 1, 2018 are enrolled in PSPDCP. Prior to July 1, 2018, corrections
officers and detention officers were permitted to elect to participate in either CORP or
PSPDCP.
Provisions
1. Permits Officers hired on or after July 1, 2025 to elect to participate in either CORP or
PSPDCP. (Sec. 3)
2. Directs the PSPRS Board of Trustees to provide Officers hired on or after July 1, 2025
education and information about CORP and PSPDCP during their first 60 days of
employment. (Sec. 3)
3. States that the participation of Officers in either CORP or PSPDCP begins 90 days after
the start of employment. (Sec. 3)
☐ Prop 105 (45 votes) ☐ Prop 108 (40 votes) ☐ Emergency (40 votes) ☐ Fiscal Note HB 2329
Initials NM Page 2 Caucus & COW
4. Provides that unless an Officer elects otherwise within 90 days after beginning
employment, he is automatically enrolled in CORP by default. (Sec. 3)
5. Specifies that an Officer's election between CORP and PSPDCP is irrevocable for the
remainder of his employment, unless he is subsequently in a position that allows for a
new election. (Sec. 3)
6. Stipulates that if an Officer is rehired after a termination more than six months previous,
then he may make a new election between CORP or PSPDCP. (Sec. 3)
7. Grants Officers hired on or after July 1, 2018 and before the effective date of this Act a
period, of 90 days after the effective date of this Act, to make an irrevocable election to
switch from PSPDCP to CORP. (Sec. 4)
8. Specifies Officers hired on or after July 1, 2018 and before the effective date of this Act
who do not make an election will continue to participate in PSPDCP. (Sec. 4)
9. Makes technical and conforming changes. (Sec. 1, 2, 3)