HB2203 is a bill that proposes several amendments to the administration of the Public Safety Personnel Retirement System (PSPRS) and other PSPRS-managed retirement plans in Arizona. The bill addresses the transfer of actuarially accrued liabilities when members are reemployed with a new employer, the treatment of abandoned monies, the ability for participants to take loans against their annuity accounts, and the inclusion of additional groups in supplemental defined contribution plans.

Key changes include:
- If a PSPRS or Corrections Officer Retirement Plan (CORP) member is reemployed with a new employer, the assets equal to the actuarially accrued liability earned with the previous employer must transfer to the new employer, and all benefit liabilities for the member are attributed to that employer.
- Trust funds administered by the PSPRS Board are exempt from the Arizona Unclaimed Property Act, and the Board must adopt policies for handling monies presumed to be abandoned.
- The prohibition on PSPRS participants taking loans on their annuity accounts is removed.
- The definition of eligible groups for supplemental defined contribution plans is expanded to include the Elected Officials' Defined Contribution (EODC) Retirement System and the Public Safety Personnel Defined Contribution Retirement Plan (PSPDCRP).
- The bill also makes technical and conforming changes, including the correction of a penalty calculation from "daily" to "annually" compounded.

The bill has retroactive provisions for certain sections, applying changes to dates in 2016 and 2017, and is set to become effective on the general effective date.

Statutes affected:
Introduced Version: 38-840.04, 38-843, 38-848, 38-867, 38-869, 38-891, 38-951, 38-953, 38-865, 2004-2005, 2011-2012, 2012-2013, 2013-2014, 2014-2015, 2015-2016, 2022-2023, 2023-2024, 41-1750, 92-544, 38-295, 38-848.03, 35-154, 41-4401, 38-611, 44-1801, 38-865.01, 38-844, 38-886, 38-857, 38-906, 38-842, 38-881, 38-651.01, 38-782, 2006-2007, 38-713, 15-1451, 15-1628
House Engrossed Version: 38-840.04, 38-843, 38-848, 38-867, 38-869, 38-891, 38-951, 38-953, 38-865, 2004-2005, 2011-2012, 2012-2013, 2013-2014, 2014-2015, 2015-2016, 2022-2023, 2023-2024, 41-1750, 92-544, 38-295, 38-848.03, 35-154, 41-4401, 38-611, 44-1801, 38-865.01, 38-844, 38-886, 38-857, 38-906, 38-842, 38-881, 38-651.01, 38-782, 2006-2007, 38-713, 15-1451, 15-1628
Senate Engrossed Version: 38-840.04, 38-843, 38-848, 38-867, 38-869, 38-891, 38-951, 38-953, 38-865, 2004-2005, 2011-2012, 2012-2013, 2013-2014, 2014-2015, 2015-2016, 2022-2023, 2023-2024, 41-1750, 92-544, 38-295, 38-848.03, 35-154, 41-4401, 38-611, 44-1801, 38-865.01, 38-844, 38-886, 38-857, 38-906, 38-842, 38-881, 38-651.01, 38-782, 2006-2007, 38-713, 15-1451, 15-1628
Chaptered Version: 38-840.04, 38-843, 38-848, 38-867, 38-869, 38-891, 38-951, 38-953, 38-865, 2004-2005, 2011-2012, 2012-2013, 2013-2014, 2014-2015, 2015-2016, 2022-2023, 2023-2024, 41-1750, 92-544, 38-295, 38-848.03, 35-154, 41-4401, 38-611, 44-1801, 38-865.01, 38-844, 38-886, 38-857, 38-906, 38-842, 38-881, 38-651.01, 38-782, 2006-2007, 38-713, 15-1451, 15-1628