Second Regular Session S.B. 1034
COMMITTEE ON FINANCE
SENATE AMENDMENTS TO S.B. 1034
(Reference to printed bill)
Page 1,
between lines 1 and 2, insert:
"Section 1. Section 38-759,
Arizona Revised Statutes, is amended to read:
38-759. Late
retirement; definition
A. A
member who is eligible for normal retirement benefits on the member's normal
retirement date may elect to defer receiving retirement benefits.
B. Notwithstanding
this section, payment of a member's deferred benefits shall not commence later
than the April 1 following the calendar year in which the member
attains seventy and one‑half years of age or the calendar year in which
the member terminates employment, whichever occurs later
member's required beginning date.
C. For
the purposes of this section, "required beginning date" has the same
meaning prescribed in section 38‑775."
Renumber to
conform
Line 36,
strike "seventy and one‑half" insert "seventy‑two"
Page 5, line
38, after "commence" strike remainder of line
Strike lines
39 and 40
Line 41,
strike "employment, whichever occurs later" insert "in accordance with section 401(a)(9)(C) of the
internal revenue code"
Amend title to conform