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Current as of March 08, 2022 | Updated by FindLaw Staff
In this article, unless the context otherwise requires:
1. “Annuity account” means an account that is established for each participant to record the deposit of participant contributions, employer contributions and interest, dividends or other accumulations credited on behalf of the participant.
2. “Board” means the board of trustees of the public safety personnel retirement system established by § 38-848.
3. “Compensation”:
(a) For participants as defined in paragraph 7, subdivision (a) of this section and § 38-865.01, has the same meaning prescribed in § 38-842.
(b) For participants as defined in paragraph 7, subdivision (b) of this section, means salary as defined in § 38-881.
4. “Defined contribution plan” means the public safety personnel defined contribution retirement plan established pursuant to this article.
6. “Employer contribution” means an amount deposited by an employer, from the employer's own monies, in the participant's annuity account on a periodic basis coinciding with the participant's regular pay period.
7. “Participant” means:
(a) A member as defined in § 38-842, paragraph 31, subdivision (a), excluding subdivision (a), item (vi), who is one of the following:
(i) An employee who is hired on or after July 1, 2017, who makes the irrevocable election to participate solely in the defined contribution plan established pursuant to this article and who was not an active, an inactive or a retired member of the system or a member of the system with a disability on June 30, 2017.
(ii) An employee who is hired on or after July 1, 2017, who is not covered by the federal old age and survivors insurance system and who makes the irrevocable election to participate in the system or is enrolled in the system pursuant to § 38-842.01, subsection A.
(b) A member as defined in § 38-881, paragraph 27, subdivision (a) who is one of the following:
(i) An employee who is hired on or after July 1, 2018, who is not in a designated position as defined in § 38-881, paragraph 13, subdivision (g) and who was not an active, an inactive or a retired member of the corrections officer retirement plan or a member of the corrections officer retirement plan with a disability on June 30, 2018.
(ii) An employee who is hired on or after July 1, 2018, who is in a designated position as defined in § 38-881, paragraph 13, subdivision (g), who makes the irrevocable election pursuant to § 38-881.01 to participate solely in the defined contribution plan established pursuant to this article and who was not an active, an inactive or a retired member of the corrections officer retirement plan or a member of the corrections officer retirement plan with a disability on June 30, 2018.
8. “Pensionable compensation” means the amount of the participant's annual compensation that does not exceed the limitation specified in § 38-843.04 or 38-895.01, as applicable.
9. “System” means the public safety personnel retirement system established by article 4 of this chapter. 1
Cite this article: FindLaw.com - Arizona Revised Statutes Title 38. Public Officers and Employees § 38-865. Definitions - last updated March 08, 2022 | https://codes.findlaw.com/az/title-38-public-officers-and-employees/az-rev-st-sect-38-865/
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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