Arizona § 38-844.08 Payment of deferred retirement option plan benefits

Arizona Statutes

§ 38-844.08 — Payment of deferred retirement option plan benefits

Arizona § 38-844.08

Title 38Arizona Revised Statutes

Ch. 5SOCIAL SECURITY AND RETIREMENT

Art. 4Public Safety Personnel Retirement System

This text of Arizona § 38-844.08 (Payment of deferred retirement option plan benefits) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 38-844.08 (2026).

Text

A.On the simultaneous termination of deferred retirement option plan participation and employment, a member is entitled to receive all of the following:

1.The monthly retirement allowance in the amount determined pursuant to section 38-845 that was credited monthly to the member's deferred retirement option plan participation account at the date of termination of deferred retirement option plan participation.

2.All amounts credited to the member's deferred retirement option plan participation account on the effective date of termination of deferred retirement option plan participation.

B.The form of payment shall be a lump sum distribution that is directly deposited in an account created for the member in the public safety personnel defined contribution retirement plan established b

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A. On the simultaneous termination of deferred retirement option plan participation and employment, a member is entitled to receive all of the following:

1. The monthly retirement allowance in the amount determined pursuant to section 38-845 that was credited monthly to the member's deferred retirement option plan participation account at the date of termination of deferred retirement option plan participation.

2. All amounts credited to the member's deferred retirement option plan participation account on the effective date of termination of deferred retirement option plan participation.

B. The form of payment shall be a lump sum distribution that is directly deposited in an account created for the member in the public safety personnel defined contribution retirement plan established by article 4.1 of this chapter. On deposit of the lump sum payment, the member shall immediately be able to either withdraw all or any portion of the lump sum deposit or directly transfer all or any portion of the lump sum deposit to an eligible retirement plan as required by section 401(a)(31) of the internal revenue code.