The proposed bill would amend current statutes regarding participation in supplemental employee deferral plans for employees of the Arizona State Retirement System (ASRS) and political subdivisions. Under current law, employees who are not eligible to participate in a public retirement system may elect to join a supplemental employee deferral plan if they meet ASRS's eligibility requirements. The bill would change the language to specify that employees who are participating in the Public Safety Personnel Retirement System (PSPRS) or any PSPRS-administered retirement plan are not eligible to participate in these supplemental plans.

Additionally, the bill clarifies that employees of political subdivisions who are participating in a public retirement system are also ineligible for the supplemental employee deferral plan. This change aims to ensure that only those not participating in PSPRS or similar plans can opt into the supplemental deferral options. Overall, the bill introduces new eligibility criteria while making technical adjustments to the existing statutes.

Statutes affected:
Introduced Version: 38-781
House Engrossed Version: 38-781
Chaptered Version: 38-781