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Current as of March 08, 2022 | Updated by FindLaw Staff
A. The elected officials' retirement plan is established.
B. The elected officials' retirement plan fund is established. The fund shall be made up of the assets of the judges' retirement plan and the elected officials' retirement plan terminated on August 7, 1985 plus the assets generated by this plan and the assets of the administrator of the board in the state employees retirement plan on the date of transfer plus any assets transferred to the fund in accordance with a joinder agreement. The fund shall be used exclusively for payment of benefits to retired members or their beneficiaries as provided in this article and for payment of the administration, operation and investment expenses of the plan. In no case shall any portion of the fund revert or otherwise be paid to an employer.
C. The board shall administer, manage and operate the plan and fund.
D. The elected officials' retirement plan is a jural entity that may sue and be sued.
Cite this article: FindLaw.com - Arizona Revised Statutes Title 38. Public Officers and Employees § 38-802. Elected officials' retirement plan and fund; administration - last updated March 08, 2022 | https://codes.findlaw.com/az/title-38-public-officers-and-employees/az-rev-st-sect-38-802/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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