ARIZONA STATE SENATE
Phoenix, Arizona
Allows all Public Safety
Personnel Retirement System (PSPRS) members employed by an employer now covered
under PSPRS, fire fighters and peace officers who have prior service with any
state in the United States or a federal entity to redeem prior service with
PSPRS.
Background
PSPRS is designed for public
employees who are regularly assigned to hazardous duties. Originally, PSPRS was established for a
specific group of fire fighters and police officers; however, over a period of
several years many other groups have become eligible for coverage under PSPRS. PSPRS members who had previous service in
the State with an employer now covered under PSPRS and who received a refund of
contributions from the fire fighters pension fund, police pension fund, state
highway patrol fund or state retirement system can redeem prior service by
paying into PSPRS actuarial adjusted amounts.
H.B. 2372 eliminates
provisions limiting prior service redemption to employees who receive a refund
from statutorily specified pension funds.
This legislation also allows full-time fire fighters and peace officers who
have previous service with any state or federal government entity and is now a
member of PSPRS to redeem prior service.
There is no identifiable
fiscal impact associated with this bill.
Provisions
1. Allows prior service to be redeemed for all PSPRS members employed by an employer now covered under PSPRS.
2. Allows a PSPRS member who formerly worked as a full-time fire fighter or as a peace officer for a state or a federal entity to redeem prior service.
3. Specifies that prior service being redeemed cannot be on account with any other retirement system.
4. Changes the redemption calculation responsibility from the fund manager to the PSPRS actuary.
5. Makes technical and conforming changes
6. Provides for a general effective date.
House Actions
RGO 2/5/02 DP 9-0-0-1-0
APPROP 3/19/02 DP 14-0-0-2-0
Prepared by Senate Staff
April 11, 2002