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House Engrossed
continuation; ASRS |
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State of Arizona House of Representatives Fifty-sixth Legislature Second Regular Session 2024
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CHAPTER 30
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HOUSE BILL 2208 |
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An Act
repealing section 41-3024.26, Arizona Revised Statutes; amending title 41, chapter 27, article 2, Arizona Revised Statutes, by adding section 41-3032.26; 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. Repeal
Section 41-3024.26, Arizona Revised Statutes, is repealed.
Sec. 2. Title 41, chapter 27, article 2, Arizona Revised Statutes, is amended by adding section 41-3032.26, to read:
41-3032.26. Arizona state retirement system; termination July 1, 2032
A. The Arizona state retirement system board and director terminate on July 1, 2032.
B. Title 38, chapter 5, articles 2 and 2.1 and this section are repealed on January 1, 2033.
Sec. 3. Purpose
Pursuant to section 41-2955, subsection B, Arizona Revised Statutes, the legislature continues the Arizona state retirement system board and director in order to collect, manage and invest employee and employer contributions and assets and distribute retirement, health insurance, long-term disability and defined contribution benefits to members of the system and plan and nonmember participants in defined contribution plans.
Sec. 4. Retroactivity
Sections 1 and 2 of this act apply retroactively to from and after July 1, 2024.
APPROVED BY THE GOVERNOR MARCH 29, 2024.
FILED IN THE OFFICE OF THE SECRETARY OF STATE MARCH 29, 2024.