The bill proposes to continue the Public Safety Personnel Retirement System (PSPRS) Board of Trustees for six years, retroactive to July 1, 2024, until January 1, 2030. It also includes a provision to repeal the PSPRS Board, along with related articles and sections, on January 1, 2031. The bill aims to ensure the PSPRS Board continues to manage and invest contributions and assets, as well as distribute retirement benefits to members of various retirement plans, including those for elected officials, public safety personnel, and corrections officers.

The bill repeals section 41-3024.27 of the Arizona Revised Statutes and adds section 41-3030.12, which outlines the termination and repeal dates for the PSPRS Board and associated statutes. The bill has no anticipated fiscal impact on the state General Fund and will become effective on the general effective date, with certain provisions retroactively applied.

Statutes affected:
Introduced Version: 41-3024.27, 41-3028.04
House Engrossed Version: 41-3024.27, 41-3030.12
Chaptered Version: 41-3024.27, 41-3030.12