The Arizona Revised Statutes have been updated to include the revised sections from the 56th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 56th Legislature, 2nd Regular Session, which convenes in January 2024.
DISCLAIMER
This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
A. The board shall annually review and adopt a pension funding policy for each defined benefit retirement plan and system administered by the board that analyzes and reviews the methods to ensure systematic funding of all retirement benefit payments for the members of each defined benefit retirement plan and system and that outlines the strategy to achieve financial solvency of each plan and system.
B. The board shall annually consolidate the pension funding policies of employers adopted pursuant to section 38-863.01 and post the document on the system's public website.
C. On or before June 30 of each year, the board shall submit a popular annual financial report to the governor, the president of the senate and the speaker of the house of representatives and post to the system's public website that includes the following:
1. For each retirement system and plan that is administered by the board:
(a) Funding status.
(b) Aggregate contribution rates.
(c) Demographic updates.
2. For the aggregate of the systems and plans administered by the board:
(a) Investment returns.
(b) An analysis of the system's aggregate experience over the previous year.