The proposed bill would amend current statutes related to the Arizona State Retirement System (ASRS) by allowing elected officials who reach their normal retirement date to retire without terminating their position. Specifically, it introduces new provisions that require the employer to pay an alternate contribution rate for retired members who continue to work in a capacity of less than twenty hours per week. Additionally, it mandates that both the member and their employer notify ASRS in writing about the retirement without termination of employment.

Furthermore, the bill clarifies that a member who retires under these new provisions is considered a retired member as of the retirement date and is not eligible for long-term disability or service credit during the period of employment after retirement. It also stipulates that if a retired member takes on a non-elected position requiring ASRS contributions, they must either terminate that employment or reduce their hours to remain compliant with the regulations. Overall, the bill aims to modernize the retirement process for elected officials while ensuring that the integrity of the retirement system is maintained.

Statutes affected:
Introduced Version: 38-764, 38-766.01, 38-766.02, 38-782, 38-783, 38-767, 38-775, 38-711, 38-766, 38-743, 38-744, 15-536, 15-538, 15-538.01, 15-539, 15-540, 15-541, 15-542, 15-543, 38-736, 38-737, 38-797.05, 15-1628