The bill HB2208 proposes to continue the Arizona State Retirement System (ASRS) until January 1, 2032, and repeals it on January 1, 2033. The ASRS is responsible for administering a public pension program for state employees, providing incentives for recruitment and retention, contributing to compensation packages, encouraging long-term service, and promoting high levels of public service.

The bill includes the repeal of section 41-3024.26, Arizona Revised Statutes, and adds section 41-3032.26, which outlines the termination of the ASRS board and director on July 1, 2032, and the repeal of relevant articles on January 1, 2033. The bill also retroactively applies these changes from July 1, 2024.

Statutes affected:
Introduced Version: 41-3024.26, 41-3032.26
House Engrossed Version: 41-3024.26, 41-3032.26
Chaptered Version: 41-3024.26, 41-3032.26