AZ HCR2001

Proposes amendment to Article XXIX, Section 1 of Arizona Constitution regarding public retirement systems.

Requires public retirement systems to be funded using contributions and investment earnings consistent with generally accepted actuarial methods and assumptions.

Establishes that retirement system assets, including earnings and contributions, are separate trust funds managed solely in the interests of members and beneficiaries.

Protects membership in public retirement systems as a contractual relationship that cannot be diminished or impaired, subject to existing constitutional protections.

Permits increases in member contributions or reductions in member benefits if consistent with actuarial standards and necessary for the financial stability of the retirement system.