AZ SB1317

Amends the Public Safety Personnel Retirement System (PSPRS) and Corrections Officers Retirement Plan (CORP) to require "upon notification" for board payment of health insurance premiums for retired members, replacing prior language about benefit eligibility.

Adds section 38-845.02 limiting retroactive pension payments to no more than 90 days before the date of application for benefits.

Modifies compensation definition to include "compensatory time used by an employee in lieu of overtime not otherwise paid by an employer" and clarifies fire, wildfire, and emergency management activities in third-party contract provisions.

Changes references from "fund manager" to "board of trustees" throughout the system administration provisions and modifies local board meeting minute submission deadlines and procedures.

Updates employer contribution deadlines to require transfer of contributions within ten working days after each payroll date with a penalty of 10 percent per annum compounded annually for late payments.