Bill Text: AZ SB1332 | 2020 | Fifty-fourth Legislature 2nd Regular | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Appropriations; PSPRS; EORP; unfunded liabilities

Spectrum: Partisan Bill (Republican 1-0)

Status: (Engrossed - Dead) 2020-03-10 - House read second time [SB1332 Detail]

Download: Arizona-2020-SB1332-Introduced.html

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REFERENCE TITLE: appropriations; PSPRS; EORP; unfunded liabilities

 

 

 

 

State of Arizona

Senate

Fifty-fourth Legislature

Second Regular Session

2020

 

 

 

SB 1332

 

Introduced by

Senator Livingston

 

 

AN ACT

 

Appropriating monies to offset unfunded pension liability.

 

 

(TEXT OF BILL BEGINS ON NEXT PAGE)

 

Be it enacted by the Legislature of the State of Arizona:

Section 1.  Appropriations; PSPRS; EORP; pension liability

A.  The sum of $45,000,000 is appropriated from the state general fund in fiscal year 2020‑2021 to the public safety personnel retirement system to be deposited in the employer account of the department of public safety to offset unfunded pension liability.

B.  The sum of $5,000,000 is appropriated from the state general fund in fiscal year 2020‑2021 to the elected officials' retirement plan to offset unfunded pension liability.