ARIZONA HOUSE OF REPRESENTATIVES

Fifty-seventh Legislature

First Regular Session

House: WM DP 8-0-0-1 | 3rd Read DP 53-0-7-0-0

☐ Prop 105 (45 votes) ☐ Prop 108 (40 votes) ☐ Emergency (40 votes) ☐ Fiscal Note

HB 2035: ASRS; termination incentive programs

Sponsor: Representative Livingston, LD 28

House Engrossed

Overview

Creates a definition for unfunded liability used for assessing the cost for an unfunded liability resulted from a termination incentive program.

History

Employers are required, if they offer a termination incentive program, to pay the Arizona State Retirement System (ASRS) if a unfunded liability results from a termination incentive program (A.R.S. § 38-749).

Provisions

1.   Defines unfunded liability for each type of termination incentive program. (Sec. 1)

2.   Makes technical changes. (Sec. 1)

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6.                     HB 2035

7.   Initials VP/DD    Page 0 House Engrossed

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