REFERENCE TITLE: appropriations; PSPRS; EORP; unfunded liabilities

State of Arizona Senate Fifty-fourth Legislature Second Regular Session 2020

SB 1332

Introduced by Senator Livingston

 

AN ACT

 

Appropriating monies to offset unfunded pension liability.

 

 

(TEXT OF BILL BEGINS ON NEXT PAGE)

 

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

Section 1.  Appropriations; PSPRS; EORP; pension liability

A.  The sum of $45,000,000 is appropriated from the state general fund in fiscal year 2020‑2021 to the public safety personnel retirement system to be deposited in the employer account of the department of public safety to offset unfunded pension liability.

B.  The sum of $5,000,000 is appropriated from the state general fund in fiscal year 2020‑2021 to the elected officials' retirement plan to offset unfunded pension liability.