AZ SB1117

Amends board qualifications to replace "association for investment management and research" with "CFA Institute" for chartered financial analyst requirements on ASRS board members.

Adds new director duties including prescribing procedures for employers to remit data and monies to ASRS and receive data and monies from ASRS, plus providing continuing education programs for board members.

Creates new debt collection authorities for ASRS including recovery of collection costs, levy and distraint powers on cash, financial institution accounts, and wages after at least two collection attempts and 30 days notice.

Authorizes ASRS to enter into data match agreements with financial institutions to identify and collect monies owed, with restrictions on disclosure limited to debt collection purposes and reasonable fees.

Modifies member account statement requirements to allow electronic or online delivery instead of mandatory annual paper statements and clarifies beneficiary change procedures.