Arizona § 38-863.01 Pension funding policies; employers

Arizona Statutes

§ 38-863.01 — Pension funding policies; employers

Arizona § 38-863.01

Title 38Arizona Revised Statutes

Ch. 5SOCIAL SECURITY AND RETIREMENT

Art. 4Public Safety Personnel Retirement System

This text of Arizona § 38-863.01 (Pension funding policies; employers) 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. § 38-863.01 (2026).

Text

A. Each governing body of an employer shall annually: 1. Adopt a pension funding policy for the system for employees who were hired before July 1, 2017. The pension funding policy shall include funding objectives that address at least the following:

(a)How to maintain stability of the governing body's contributions to the system.

(b)How and when the governing body's funding requirements of the system will be met.

(c)Defining the governing body's funded ratio target under the system and the timeline for reaching the targeted funded ratio. 2. Formally accept the employer's share of the assets and liabilities under the system based on the system's actuarial valuation report. B. The governing body shall post the pension funding policy on the governing body's public website and transm

Free access — add to your briefcase to read the full text and ask questions with AI

A. Each governing body of an employer shall annually:

1. Adopt a pension funding policy for the system for employees who were hired before July 1, 2017. The pension funding policy shall include funding objectives that address at least the following:

(a) How to maintain stability of the governing body's contributions to the system.

(b) How and when the governing body's funding requirements of the system will be met.

(c) Defining the governing body's funded ratio target under the system and the timeline for reaching the targeted funded ratio.

2. Formally accept the employer's share of the assets and liabilities under the system based on the system's actuarial valuation report.

B. The governing body shall post the pension funding policy on the governing body's public website and transmit the pension funding policy to the board.