 |
ARIZONA STATE SENATE
Fifty-Sixth Legislature, Second Regular Session
continuation; PSPRS
Purpose
Continues the Public Safety Personnel Retirement System Board of Trustees (PSPRS Board) for six years.
Background
The PSPRS Board is responsible for overseeing the Elected Officials’ Retirement Plan (EORP), the Corrections Officer Retirement Plan (CORP) and PSPRS. EORP provides a statewide retirement system for elected officials in Arizona. CORP provides retirement and disability benefits for Arizona corrections officers and county, city or town detention officers, dispatchers, probation officers and surveillance officers. PSPRS provides retirement benefits for municipal firefighters and police, highway patrol and other public safety personnel (A.R.S. § 38-848; PSPRS).
The Senate Finance and Commerce Committee of Reference (COR) held a public meeting on January 29, 2024, to review and evaluate the PSPRS Board's response to the sunset review factors and receive public testimony. The COR recommended that the PSPRS Board be continued for six years until July 1, 2030. The PSPRS Board terminates on July 1, 2024, unless continued by the Legislature (A.R.S § 41- 3024.26).
There is no anticipated fiscal impact to the state General Fund associated with this legislation.
Provisions
1. Continues, retroactive to July 1, 2024, the PSPRS Board until January 1, 2030.
2. Repeals EORP, PSPRS and CORP on January 1, 2031.
3. Contains a purpose statement.
4. Becomes effective on the general effective date, with a retroactive provision as noted.
House Action
WM 1/31/24 DPA 8-2-0-0
3rd Read 2/20/24 52-5-2-0-1
Prepared by Senate Research
March 13, 2024
MG/JC/cs