Arizona § 38-870.05 Contribution rate

Arizona Statutes

§ 38-870.05 — Contribution rate

Arizona § 38-870.05

Title 38Arizona Revised Statutes

Ch. 5SOCIAL SECURITY AND RETIREMENT

Art. 4.Public Safety Personnel Defined Contribution Retirement Plan Disability Program

This text of Arizona § 38-870.05 (Contribution rate) 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. § 38-870.05 (2026).

Text

A.Employer contributions shall be a percentage of gross pensionable compensation for each participant, as the system actuary determines pursuant to this section. The actuary shall make this determination in an annual valuation performed as of June 30. The valuation as of June 30 of a calendar year shall determine the percentage to be applied to compensation for the fiscal year beginning July 1 of the following calendar year. The actuary shall determine the total employer contribution using an actuarial cost method consistent with generally accepted actuarial standards. The total employer contributions shall be equal to the employer normal cost plus the amount required to amortize the past service funding requirement over a period consistent with generally accepted actuarial standards.

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A. Employer contributions shall be a percentage of gross pensionable compensation for each participant, as the system actuary determines pursuant to this section. The actuary shall make this determination in an annual valuation performed as of June 30. The valuation as of June 30 of a calendar year shall determine the percentage to be applied to compensation for the fiscal year beginning July 1 of the following calendar year. The actuary shall determine the total employer contribution using an actuarial cost method consistent with generally accepted actuarial standards. The total employer contributions shall be equal to the employer normal cost plus the amount required to amortize the past service funding requirement over a period consistent with generally accepted actuarial standards.

B. All contributions made by the employer and allocated to the disability program trust fund established by section 38-870.02 are irrevocable and shall be used as benefits under this article or to pay expenses of the disability program.