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House Engrossed
continuation; PSPRS |
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State of Arizona House of Representatives Fifty-sixth Legislature Second Regular Session 2024
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HOUSE BILL 2378 |
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An Act
repealing section 41-3024.27, Arizona Revised Statutes; amending title 41, chapter 27, article 2, Arizona Revised Statutes, by adding section 41-3030.12; relating to the public safety personnel retirement system board of trustees.
(TEXT OF BILL BEGINS ON NEXT PAGE)
Be it enacted by the Legislature of the State of Arizona:
Section 1. Repeal
Section 41-3024.27, Arizona Revised Statutes, is repealed.
Sec. 2. Title 41, chapter 27, article 2, Arizona Revised Statutes, is amended by adding section 41-3030.12, to read:
41-3030.12. Public safety personnel retirement system board of trustees; termination July 1, 2030
A. The public safety personnel retirement system board of trustees terminates on July 1, 2030.
B. Title 38, chapter 5, articles 3, 3.1, 3.2, 4, 4.1, 4.2, 5.1 and 6 and this section are repealed on January 1, 2031.
Sec. 3. Purpose
Pursuant to section 41-2955, subsection B, Arizona Revised Statutes, the legislature continues the public safety personnel retirement system board of trustees in order to manage and invest employee and employer contributions and assets and distribute retirement benefits to retired members of the elected officials' retirement plan, the elected officials' defined contribution retirement system, the public safety personnel retirement system, the public safety personnel defined contribution retirement plan and the corrections officer retirement plan.
Sec. 4. Retroactivity
Sections 1 and 2 of this act apply retroactively to from and after July 1, 2024.