AZ HB2051

Amends Arizona Revised Statutes Section 38-713 to modify the composition and qualifications of the Arizona State Retirement System (ASRS) board.

Maintains the ASRS board at nine members appointed by the governor: five members from ASRS (educator, political subdivision employee, retired member, state employee, and at-large member) and four public members who are not ASRS members.

Requires four board members to have at least ten years of substantial experience in portfolio management, securities analysis, investment-related positions, financial analysis, economics, or public/private finances.

Requires each member representing an ASRS member group to have at least five years of administrative management experience.

Prohibits stockbrokers, bond brokers actively engaged in their profession, and persons holding real estate licenses from serving on the board; board members receive compensation of up to $50 per day, not exceeding $1,000 annually, plus expense reimbursement.