Arizona Revised Statutes Title 38. Public Officers and Employees § 38-721. Administration account

1. All monies appropriated by the legislature to pay administrative expenses of ASRS.

2. All monies received for proportionate shares of administrative expenses from departments that pay the salaries of their officers and employees wholly or in part from monies received from sources other than appropriations from the state general fund.

3. All monies received for proportionate shares of administrative expenses from political subdivisions paying employer contributions.

4. Monies that the director transfers from the investment account and that are necessary for the payment of expenditures made pursuant to subsections C and D of this section.

1. Investment management fees and related consulting fees necessary to meet the board's investment objectives.

2. Rent.

3. Actuarial consulting fees.

4. Retiree payroll.

1. May expend monies from the administration account for staff, expenses and related consulting fees necessary to implement § 38-714, subsection E, paragraph 1 and subsection I, paragraphs 2 and 3, § 38-718, subsection D, paragraph 5 and §§ 38-755 and 38-756.

2. Shall pay from the administration account the costs for administering the health insurance program for retired members pursuant to § 38-782, the cost of continuing education programs for the board and the cost of legal counsel.