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.
48-226 - Retirement or advisory committee; qualifications; terms; powers
48-226. Retirement or advisory committee; qualifications; terms; powers
A. The governing body may appoint a retirement or advisory committee of either three or five persons, as shall be determined by the governing body of the district, and a majority of the members of such committee shall constitute a quorum. Any determination or action of a majority of the members shall be conclusive with respect to all persons affected thereby. The committee shall have the responsibility for the general administration of the plan, and may adopt rules, mortality tables, interest rates and other factors to be used for all actuarial calculations, any or all of which may from time to time be amended or changed. The committee shall have such other powers as may be embodied in the adopted plan and as shall be necessary properly to carry out its duties.
B. If the committee consists of three members, it shall be comprised of one member of the governing body of the district, a participant, and a qualified elector of the district. If the committee consists of five members, it shall be comprised of one member of the governing body, two participants and two qualified electors of the district. Members shall be appointed for such terms, not exceeding three years, as the governing body of the district shall determine. The terms of the members need not expire concurrently. Any member may be removed by the governing body for cause, including, but not limited to, neglect of duty. Vacancies may be filled for the unexpired term by the governing body. Members of the committee shall serve without compensation but shall be paid by the district for their actual reasonable expenses.