Senate Bill 1054: ASRS; Nonparticipating Employers
This bill makes changes to the definition of “nonparticipating employer” for the purposes of charging a liability created by an employer who either has current or prospective employees no longer participating in the ASRS. Such scenarios may occur if an employer ceases ASRS participation.
Senate Bill 1524: Budget Procedures; BRB; 2018-19
This bill makes changes to the reporting requirements for state retirement systems. By December 1 each year, the ASRS shall report the following information to the Governor, the Speaker of the House of Representatives, and the President of the Senate:
- The contribution rates for the ensuing fiscal year;
- The unfunded actuarial accrued liability;
- The funded status based on the actuarial and market value of assets;
- The annualized rate of return; and
- The 10-year rate of return as of June 30 of the prior fiscal year.
Be sure to explore our website to see the latest legislative updates, state statutes and administrative rules related to the ASRS and public retirement plans.
- Follow legislative sessions on ASRS’ Bill Tracker.
- Link to Arizona Revised Statutes.
- Check ASRS administrative rules.
Look for the Legislation and Rules sections on our homepage, for details and links.
Written by Jessica Thomas, Government Relations Officer
This article appeared in "Financial Horizons " (Q3-2018) , a publication of the ASRS
