Arizona § 38-934 Board authorization of employer participation; employer election

Arizona Statutes

§ 38-934 — Board authorization of employer participation; employer election

Arizona § 38-934

Title 38Arizona Revised Statutes

Ch. 5SOCIAL SECURITY AND RETIREMENT

Art. 7.Arizona Employers' Pension Prefunding Plan

This text of Arizona § 38-934 (Board authorization of employer participation; employer election) 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. § 38-934 (2026).

Text

A.The board, pursuant to the terms and conditions set by the board, may authorize an employer to participate in the prefunding plan.

B.An employer authorized by the board may elect to participate in the prefunding plan if all of the following occur:

1.The governing body of the employer adopts a resolution requesting to participate in the prefunding plan.

2.The employer submits a written request to participate in the prefunding plan with the resolution to the administrator of the board.

3.The governing body of the employer enters into a contract with the board setting forth the terms and conditions of that employer's participation in the prefunding plan, including reflecting or incorporating the requirements of this article and addressing funding and expenditures and actuarial, acc

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A. The board, pursuant to the terms and conditions set by the board, may authorize an employer to participate in the prefunding plan.

B. An employer authorized by the board may elect to participate in the prefunding plan if all of the following occur:

1. The governing body of the employer adopts a resolution requesting to participate in the prefunding plan.

2. The employer submits a written request to participate in the prefunding plan with the resolution to the administrator of the board.

3. The governing body of the employer enters into a contract with the board setting forth the terms and conditions of that employer's participation in the prefunding plan, including reflecting or incorporating the requirements of this article and addressing funding and expenditures and actuarial, accounting, reporting and investment considerations.