This bill proposes several updates to the Arizona Revised Statutes concerning public retirement systems. It introduces new provisions for elected officials and judicial officers who are elected or appointed on or after July 1, 2026, allowing them to make an irrevocable election to participate either in the Arizona State Retirement System (ASRS) or in the elected officials' defined contribution retirement system. The bill also clarifies definitions for "elected official" and "judicial officer or clerk," and establishes a timeline for making these elections, which must be completed within ninety days of their election or appointment.

Additionally, the bill modifies existing contribution percentages to the elected officials' retirement plan fund and the state general fund, while also updating the language regarding the time payment fee. It removes outdated references to the Arizona state retirement system and specifies that the contributions made by employers must meet certain actuarial requirements. The bill appropriates $150,000 from the state general fund for the fiscal year 2026-2027 to cover employer contribution costs associated with these changes, and it stipulates that the act will take effect after June 30, 2026.

Statutes affected:
Introduced Version: 12-284.03, 38-727, 38-728, 38-810, 38-831, 12-284, 41-2402, 36-3002, 8-550.01, 12-305, 12-135, 38-802, 12-113, 8-135, 12-116, 15-1628, 15-1451, 38-804, 38-743, 38-744, 12-119.01, 12-120.31, 22-281, 41-178, 38-797.05, 38-833, 38-737, 38-803.01, 2011-2012, 2012-2013, 2013-2014, 2042-2043, 35-190