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

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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-Engrossed.html

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Senate Engrossed

 

 

 

 

State of Arizona

Senate

Fifty-fourth Legislature

Second Regular Session

2020

 

 

 

SENATE BILL 1332

 

 

 

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.