PREFILED    JAN 07 2019

REFERENCE TITLE: ASRS; paying interest; authorization

State of Arizona Senate Fifty-fourth Legislature First Regular Session 2019

SB 1017

Introduced by Senator Livingston

 

AN ACT

 

Amending title 38, chapter 5, article 2, Arizona Revised Statutes, by adding section 38‑719; amending title 38, chapter 5, article 2.1, Arizona Revised Statutes, by adding section 38-797.15; relating to the Arizona state retirement system.

 

 

(TEXT OF BILL BEGINS ON NEXT PAGE)

 

Be it enacted by the Legislature of the State of Arizona:

Section 1.  Title 38, chapter 5, article 2, Arizona Revised Statutes, is amended by adding section 38-719, to read:

START_STATUTE38-719.  Interest paid to members and employers

ASRS may not pay interest on any amount paid to a member, an alternate payee or an employer pursuant to this article unless specifically authorized by statute. END_STATUTE

Sec. 2.  Title 38, chapter 5, article 2.1, Arizona Revised Statutes, is amended by adding section 38-797.15, to read:

START_STATUTE38-797.15.  Interest paid to members and employers

ASRS may not pay interest on any amount paid to a member, an alternate payee or an employer pursuant to this article unless specifically authorized by statute. END_STATUTE