reglab/housing_qa huggingface dataset:
AZ Rev Stat § 38-853.02 (2021)
2021 Arizona Revised Statutes|Title 38 - Public Officers and Employees|§ 38-853.02 - Purchase of service; payment

38-853.02.  Purchase of service;  payment A member who purchases service pursuant to this article or section 38-922 or 38-924 shall make payments directly to the system in whole or in part by any one or a combination of the following methods: 1. In lump sum payments. 2. Through an arrangement with the system that the payments be made in installment payments over a period of time. 3. Subject to the limitations prescribed in sections 401(a)(31) and 402(c) of the internal revenue code,  accepting a direct transfer of any eligible rollover distribution or a contribution by a member of an eligible rollover distribution from one or more: (a) Retirement programs that are qualified under section 401(a) or 403(a) of the internal revenue code. (b) Annuity contracts described in section 403(b) of the internal revenue code. (c) Eligible deferred compensation plans described in section 457(b) of the internal revenue code that are maintained by a state,  a political subdivision of a state or any agency or instrumentality of a state or a political subdivision of a state. 4. Subject to the limitations prescribed in section 408(d)(3)(A)(ii) of the internal revenue code,  accepting from a member a rollover contribution of that portion of a distribution from an individual retirement account or individual retirement annuity described in section 408(a) or 408(b) of the internal revenue code that is eligible to be rolled over and would otherwise be includable as gross income.
AZ Rev Stat § 38-854 (2021)
2021 Arizona Revised Statutes|Title 38 - Public Officers and Employees|§ 38-854 - Guarantees from prior systems

38-854.  Guarantees from prior systems A. An employee covered under the prior systems set forth in sections 9-912 to 9-934,  inclusive,  and in sections 9-951 to 9-971,  inclusive,  or prior statutes amended thereby and antecedent thereto,  and covered under such prior systems on June 30,  1968,  and who becomes a member of this system shall nevertheless retain the right to elect,  prior to retirement,  benefits under this system or to elect benefits under the employee's prior system for which the employee's service and age make the employee eligible,  provided that an employee shall elect in writing at the time benefits are claimed the system under which the employee elects to have the employee's eligibility for benefits and the amount thereof determined. Such election shall be irrevocable on retirement and shall be filed with the employee's local board. B. An employee of the state highway patrol who was a member of the state highway patrol retirement system on June 30,  1968 and who became a member on July 1,  1968 and who qualifies for a pension under the system,  shall have the employee's pension determined in an actuarial equivalent form of payment such that the system's benefits shall not be less than the amount payable during this period under the preexisting system. Any such employee shall nevertheless retain rights to elect to receive any benefit for which the employee's service and age make the employee eligible,  including but not limited to the following: 1. The employee shall be entitled to a pension if the employee's employment terminates after attainment of age sixty and completion of at least twenty years of service in an amount equal to fifty per cent of the employee's average monthly compensation. 2. The employee shall be entitled to a separation benefit in the form of a deferred vested pension if the employee's employment terminates after completion of at least twenty years of service,  provided that the employee leaves the employee's accumulated contributions on deposit with the fund.
AZ Rev Stat § 38-855 (2021)
2021 Arizona Revised Statutes|Title 38 - Public Officers and Employees|§ 38-855 - Transfer outside the public safety personnel retirement system

38-855.  Transfer outside the public safety personnel retirement system A member who changes employment or transfers or is assigned to a position in which such member is no longer eligible to be a member of this system,  because of a change in duties or otherwise,  with the same or another public employer of this state maintaining a retirement program for public officers or employees authorized by law may have all credited service transferred to the retirement system or program applicable to the new position. If the member does not transfer credited service as provided in this section within two years after the change in employment or transfer,  the member shall request a refund of member contributions or shall have the credited service transferred pursuant to this section. Any transfer of credited service pursuant to this section to a state retirement system or plan shall be made pursuant to article 7 of this chapter and must be approved by the board.
AZ Rev Stat § 38-856.05 (2021)
2021 Arizona Revised Statutes|Title 38 - Public Officers and Employees|§ 38-856.05 - Cost-of-living adjustment; members hired on or before June 30, 2017

38-856.05.  Cost-of-living adjustment;  members hired on or before June 30,  2017 A. For members hired on or before June 30,  2017,  each retired member or survivor of a retired member is eligible to receive a compounding cost-of-living adjustment in the base benefit as provided in this section. The first payment under this section shall be made immediately following the first year the cost-of-living adjustment specified in subsection C of this section is paid. The cost-of-living adjustment shall be made on July 1 each year thereafter. B. A retired member or a survivor of a retired member shall receive annually a cost-of-living adjustment in the base benefit based on the average annual percentage change in the metropolitan Phoenix-Mesa consumer price index published by the United States department of labor,  bureau of labor statistics,  with the immediately preceding year as the base year for making the determination,  not to exceed annually two percent of the retired member's or survivor's base benefit. C. In the first year of a member's retirement,  the cost-of-living adjustment specified in subsection B of this section shall be prorated based on the date of retirement. D. The system actuary shall include the projected cost of providing the cost-of-living adjustment specified in subsection B of this section in the calculation of normal cost and accrued liability.
AZ Rev Stat § 38-856.06 (2021)
2021 Arizona Revised Statutes|Title 38 - Public Officers and Employees|§ 38-856.06 - Cost-of-living adjustment; members hired on or after July 1, 2017; definition

38-856.06.  Cost-of-living adjustment;  members hired on or after July 1,  2017;  definition A. For members who are hired on or after July 1,  2017,  each eligible retired member or survivor of a retired member may receive a compounding cost-of-living adjustment in the base benefit as provided in this section. B. A retired member or survivor of a retired member is eligible to receive a cost-of-living adjustment under this section beginning the earlier of the first calendar year after the seventh anniversary of the retired member's retirement or when the retired member is or would have been sixty years of age. C. A cost-of-living adjustment shall be paid on July 1 each year that the funded ratio for members who are hired on or after July 1,  2017 is seventy percent or more,  as reported in the most recent actuarial valuation. D. An eligible retired member or survivor of a retired member shall receive annually a cost-of-living adjustment in the base benefit based on the average annual percentage change in the metropolitan Phoenix-Mesa consumer price index published by the United States department of labor,  bureau of labor statistics,  with the immediately preceding year as the base year for making the determination,  not to exceed annually the following: 1. Two percent of the retired member's or survivor's base benefit if the funded ratio for members who are hired on or after July 1,  2017 is ninety percent or more,  as reported in the most recent actuarial valuation. 2. One and one-half percent of the retired member's or survivor's base benefit if the funded ratio for members who are hired on or after July 1,  2017 is eighty percent or more but less than ninety percent,  as reported in the most recent actuarial valuation. 3. One percent of the retired member's or survivor's base benefit if the funded ratio for members who are hired on or after July 1,  2017 is seventy percent or more but less than eighty percent,  as reported in the most recent actuarial valuation. E. The system actuary shall include the projected cost of providing the cost-of-living adjustment specified in subsection D of this section in the calculation of normal cost and accrued liability. F. For the purposes of this section,  " funded ratio"  means the ratio of the market value of assets to the actual accrued liabilities.
AZ Rev Stat § 38-861 (2021)
2021 Arizona Revised Statutes|Title 38 - Public Officers and Employees|§ 38-861 - Future benefit increases; payment; cost calculation; definition

38-861.  Future benefit increases;  payment;  cost calculation;  definition A. Any future benefit increase adopted by the legislature or any participating employer for any member of the system shall be fully paid in the year of enactment of the benefit and may not be amortized over any period of years. A benefit for members hired before July 1,  2017 shall be paid by the employer and the cost of the benefit for members hired on or after July 1,  2017 shall be split equally between the employer and the member. B. The plan actuary shall calculate the cost of the benefit increase using all of the following: 1. A discount rate equal to the ten-year treasury constant maturity rate for the fiscal year in which the benefit is enacted. 2. An expected rate of return on assets equal to the ten-year treasury constant maturity rate for the fiscal year in which the benefit is enacted. 3. A mortality table based on the most recent proposal from the retirement plans experience committee of the society of actuaries that is not older than the RP-2014 mortality table. 4. All other actuarial assumptions approved by the board for the most recent fiscal year valuation. C. For the purposes of this section,  " future benefit increase"  includes any benefit increase that leads to a change in the present value of future benefits or a change to accrued liabilities.
AZ Rev Stat § 38-862 (2021)
2021 Arizona Revised Statutes|Title 38 - Public Officers and Employees|§ 38-862 - Discount rate; service purchase; transfer of service credits

38-862.  Discount rate;  service purchase;  transfer of service credits A. Beginning July 1,  2017,  the discount rate specified in subsection B of this section applies to service purchases or transfers of service credits to the system pursuant to the following sections: 1. Section 38-849,  subsection D. 2. Section 38-853.01,  subsection C. 3. Section 38-858,  subsection A or B. 4. Sections 38-921,  38-922,  38-923 and 38-924. B. For members enrolled in the system: 1. Before July 1,  2017,  the discount rate is the assumed rate of return that is prescribed by the board. 2. On or after July 1,  2017,  the discount rate is an amount equal to the lesser of the assumed rate of return that is prescribed by the board or an amount equal to the yield on a ten-year treasury note as of March 1 that is published by the federal reserve board plus two percent. The discount rate is effective beginning in the next fiscal year,  and the board shall recalculate the rate each year.
AZ Rev Stat § 38-863 (2021)
2021 Arizona Revised Statutes|Title 38 - Public Officers and Employees|§ 38-863 - Employer disclosure; funding ratio

38-863.  Employer disclosure;  funding ratio An employer shall disclose the employer's funding ratio for each of the employer's eligible groups under the system on the employer's public website.
AZ Rev Stat § 38-863.01 (2021)
2021 Arizona Revised Statutes|Title 38 - Public Officers and Employees|§ 38-863.01 - Pension funding policies; employers

38-863.01.  Pension funding policies;  employers A. Each governing body of an employer shall annually: 1. Adopt a pension funding policy for the system for employees who were hired before July 1,  2017. The pension funding policy shall include funding objectives that address at least the following: (a) How to maintain stability of the governing body's contributions to the system. (b) How and when the governing body's funding requirements of the system will be met. (c) Defining the governing body's funded ratio target under the system and the timeline for reaching the targeted funded ratio. 2. Formally accept the employer's share of the assets and liabilities under the system based on the system's actuarial valuation report. B. The governing body shall post the pension funding policy on the governing body's public website and transmit the pension funding policy to the board.
AZ Rev Stat § 38-863.02 (2021)
2021 Arizona Revised Statutes|Title 38 - Public Officers and Employees|§ 38-863.02 - Pension funding policies; board; employers' pension funding policies; posting; popular annual financial report

38-863.02.  Pension funding policies;  board;  employers' pension funding policies;  posting;  popular annual financial report A. The board shall annually review and adopt a pension funding policy for each defined benefit retirement plan and system administered by the board that analyzes and reviews the methods to ensure systematic funding of all retirement benefit payments for the members of each defined benefit retirement plan and system and that outlines the strategy to achieve financial solvency of each plan and system. B. The board shall annually consolidate the pension funding policies of employers adopted pursuant to section 38-863.01 and post the document on the system's public website. C. On or before June 30 of each year,  the board shall submit a popular annual financial report to the governor,  the president of the senate and the speaker of the house of representatives and post to the system's public website that includes the following: 1. For each retirement system and plan that is administered by the board: (a) Funding status. (b) Aggregate contribution rates. (c) Demographic updates. 2. For the aggregate of the systems and plans administered by the board: (a) Investment returns. (b) An analysis of the system's aggregate experience over the previous year. (c) Major policy and governance changes. (d) Future trends and objectives.
AZ Rev Stat § 38-865.01 (2021)
2021 Arizona Revised Statutes|Title 38 - Public Officers and Employees|§ 38-865.01 - Definition of participant

38-865.01.  Definition of participant For the purposes of this article,  " participant"  includes a member as defined in section 38-842,  paragraph 31,  subdivision (a),  excluding subdivision (a),  item (vi),  who is hired on or after January 1,  2012 and before July 1,  2017,  who is not covered by the federal old age and survivors insurance system and who is a member of the system.
AZ Rev Stat § 38-867.01 (2021)
2021 Arizona Revised Statutes|Title 38 - Public Officers and Employees|§ 38-867.01 - Rollover distributions and contributions; definitions

38-867.01.  Rollover distributions and contributions;  definitions A. A lump sum distribution made pursuant to section 38-844.08,  subsection B or section 38-885.01,  subsection J shall be deposited in a separate rollover account for the participant as defined in subsection C,  paragraph 2,  subdivision (a) or (b) of this section and made immediately available for the participant to either withdraw all or any portion of the lump sum deposit or directly transfer all or any portion of the lump sum deposit to an eligible retirement plan as required by section 401(a)(31) of the internal revenue code. B. A participant as defined in subsection C,  paragraph 2,  subdivision (c) of this section may make a rollover contribution from a qualified plan or an IRA that shall be deposited in a separate rollover account for the participant and made immediately available for the participant to either withdraw all or any portion of the lump sum deposit or directly transfer all or any portion of the lump sum deposit to an eligible retirement plan as required by section 401(a)(31) of the internal revenue code. C. For the purposes of this section:  1. " IRA"  means an individual retirement account or an individual retirement annuity described in sections 408(a) or 408(b) of the internal revenue code. 2. " Participant"  means any of the following: (a) A member as defined in section 38-842,  paragraph 31,  excluding subdivision (a),  item (vi),  who is hired before January 1,  2012 and who has elected to enter the deferred retirement option plan established by section 38-844.02. (b) A member as defined in section 38-881 who has elected to enter the reverse deferred retirement option plan established by section 38-885.01. (c) An individual who has made a rollover contribution pursuant to subsection B of this section and who is either: (i) A current employee of an employer as defined in section 38-842 or section 38-881. (ii) Currently receiving or entitled to receive a pension from the public safety personnel retirement system or the corrections officer retirement plan. (iii) A former employee who was an active participant,  as defined in section 38-865 or 38-865.01,  in the defined contribution plan who has an annuity account balance or a separate rollover account balance. 3. " Qualified plan"  means an eligible deferred compensation plan under section 457(b) of the internal revenue code that is maintained by a state,  a political subdivision of a state or any agency or instrumentality of a state or a political subdivision of a state,  a tax-qualified retirement plan described in section 401(a) or 403(a) of the internal revenue code or an annuity contract described in section 403(b) of the internal revenue code. 4. " Separate rollover account"  means a fully vested and nonforfeitable separate account maintained under the defined contribution plan for the benefit of a participant who has made a rollover contribution to the plan as authorized by subsection A or B of this section.
AZ Rev Stat § 38-867.02 (2021)
2021 Arizona Revised Statutes|Title 38 - Public Officers and Employees|§ 38-867.02 - Trustee-to-trustee transfers from system; definitions

38-867.02.  Trustee-to-trustee transfers from system;  definitions A. A trustee-to-trustee transfer made pursuant to section 38-844.06,  subsection C shall be deposited in a separate transfer account established on behalf of the participant and made immediately available for the participant's beneficiary to either withdraw all or any portion of the deposited monies or directly transfer all or any portion of the monies to an eligible retirement plan in accordance with section 401(a)(31) of the internal revenue code. B. For the purposes of this section: 1. " Beneficiary"  means the person designated as the beneficiary of a participant's deferred retirement option plan participation account pursuant to section 38-844.07. 2. " Participant"  means a member as defined in section 38-842,  paragraph 31,  subdivision (a),  item (vi),  who has both: (a) Elected to enter into the deferred retirement option plan established by section 38-844.02. (b) Died while a participant in the deferred retirement option plan. 3. " Separate transfer account"  means a fully vested and nonforfeitable separate account under the defined contribution plan established by the trustee in accordance with subsection A of this section.
AZ Rev Stat § 38-868 (2021)
2021 Arizona Revised Statutes|Title 38 - Public Officers and Employees|§ 38-868 - Contributions; member; employer; applicability of article

38-868.  Contributions;  member;  employer;  applicability of article A. On or before June 30,  2017,  a participant as defined in section 38-865.01 may make an irrevocable election to opt out of the defined contribution plan established by this article,  which shall be the participant's election for the remainder of the participant's employment with any employer under the system. B. Beginning July 1,  2017,  a participant as defined in section 38-865.01 in the defined contribution plan shall contribute three percent of the participant's gross pensionable compensation by salary reduction that shall be deposited in the participant's annuity account.  C. Each employer of a participant as defined in section 38-865.01 shall annually make a contribution equal to the following percentages of the participant's gross pensionable compensation: 1. For a participant that is hired in 2012,  for fiscal years 2017-2018 through 2023-2024,  four percent and three percent for each fiscal year thereafter. 2. For a participant that is hired in 2013,  for fiscal years 2017-2018 through 2022-2023,  four percent and three percent for each fiscal year thereafter. 3. For a participant that is hired in 2014,  for fiscal years 2017-2018 through 2021-2022,  four percent and three percent for each fiscal year thereafter. 4. For a participant that is hired in 2015,  for fiscal years 2017-2018 through 2020-2021,  four percent and three percent for each fiscal year thereafter. 5. For a participant that is hired in 2016,  for fiscal years 2017-2018 through 2019-2020,  four percent and three percent for each fiscal year thereafter. 6. For a participant that is hired on or after January 1,  2017 and before July 1,  2017,  for fiscal year 2017-2018,  four percent and three percent for each fiscal year thereafter. D. If a participant as defined in section 38-865.01 is subsequently covered by the federal old age and survivors insurance system,  the participant and the participant's employer may not make any contributions on the participant's behalf pursuant to this section during the period the participant is covered by the federal old age and survivors insurance system. If at a later time the participant is not covered by the federal old age and survivors insurance system through an employer under the system,  the participant and the participant's employer shall again be required to contribute on behalf of the employee pursuant to this section. E. All of the provisions of this article apply to a participant as defined in section 38-865.01.  F. For a participant as defined in section 38-865.01,  an employer may choose to pay a portion of the participant's contributions under this section in an amount of not more than the difference between the contribution rate specified under section 38-843 for employees hired on or after January 1,  2012 and before July 1,  2017 and for any employee hired before January 1,  2012.
AZ Rev Stat § 38-870 (2021)
2021 Arizona Revised Statutes|Title 38 - Public Officers and Employees|§ 38-870 - Definitions

38-870.  Definitions In this article,  unless the context otherwise requires: 1. " Assets"  means the accumulated resources of the disability program. 2. " Board"  means the board of trustees established by section 38-848. 3. " Compensation" : (a) For a participant as defined in section 38-865,  paragraph 7,  subdivision (a),  item (i),  has the same meaning prescribed in section 38-842. (b) For a participant as defined in section 38-865,  paragraph 7,  subdivision (b),  means salary as defined in section 38-881. 4. " Disability program"  or " program"  means the public safety personnel defined contribution retirement plan disability program established by this article. 5. " Local board"  has the same meaning prescribed in section 38-842 or 38-881,  as applicable. 6. " Participant"  means a participant who is in the public safety personnel defined contribution retirement plan and who is a participant as defined in section 38-865,  paragraph 7,  subdivision (a),  item (i) or subdivision (b). 7. " Pensionable compensation"  has the same meaning prescribed in section 38-865.