Arizona Revised Statutes Title 38. Public Officers and Employees § 38-862. Discount rate; service purchase; transfer of service credits

1. Section 38-849, subsection D.

2. Section 38-853.01, subsection C.

3. Section 38-858, subsection A or B.

4. Sections 38-921, 38-922, 38-923 and 38-924.

1. Before July 1, 2017, the discount rate is the assumed rate of return that is prescribed by the board.

2. On or after July 1, 2017, the discount rate is an amount equal to the lesser of the assumed rate of return that is prescribed by the board or an amount equal to the yield on a ten-year treasury note as of March 1 that is published by the federal reserve board plus two percent. The discount rate is effective beginning in the next fiscal year, and the board shall recalculate the rate each year.