AZ HB2124

Amends Arizona Revised Statutes sections 38-844.05 and 38-844.08 relating to the Public Safety Personnel Retirement System (PSPRS) Deferred Retirement Option Plan (DROP).

Adds employee contributions made pursuant to section 38-844.06, subsection B to the amounts credited monthly to a member's DROP participation account.

Requires that upon termination of DROP participation and employment, members receive interest on employee contributions at a rate equal to the average annual return of the system over the previous year, not to exceed the system's assumed investment rate of return.

Changes the language in section 38-844.08 from "both" to "all" when describing payments due to members upon simultaneous termination of DROP participation and employment.