HB2206 is a bill that amends sections of the Arizona Revised Statutes related to the Arizona State Retirement System (ASRS). The bill specifies that an ASRS member who chooses an optional premium benefit (OPB) can only name one contingent annuitant to receive the OPB after the member's death. Additionally, the bill authorizes ASRS to disclose the value of a member's benefit to a member's current or former spouse upon receipt of proof of service of a petition for annulment, dissolution of marriage, or legal separation.

The bill also replaces the term "beneficiary" with "contingent annuitant" for the purposes of the period certain and life annuity. It includes technical changes and becomes effective on the general effective date. The amendments adopted by the committee include authorizing ASRS to disclose the value of a member's benefit to a member's current or former spouse under certain conditions and making technical and conforming changes.

Statutes affected:
Introduced Version: 38-760, 38-783, 38-764, 38-776, 38-765, 38-797.08, 38-767
House Engrossed Version: 38-760, 38-783, 38-764, 38-776, 38-765, 38-797.08, 38-767
Senate Engrossed Version: 38-755, 38-760, 38-783, 38-776, 38-711, 38-743, 38-744, 38-745, 38-773, 38-764, 38-765, 38-797.08, 38-767
Chaptered Version: 38-755, 38-760, 38-783, 38-776, 38-711, 38-743, 38-744, 38-745, 38-773, 38-764, 38-765, 38-797.08, 38-767