HB 2340 Summary

• Amends Arizona Revised Statutes section 38-797.10 regarding the Arizona State Retirement System (ASRS) and Long-Term Disability (LTD) program.

• Clarifies that members have no right or interest in LTD program assets except as specifically provided by the LTD program, and all benefit payments are made solely from LTD program assets.

• Specifies that employers, the board, and board members are not liable for payment of benefits and do not guarantee the LTD trust fund against loss or depreciation.

• Adds new provision stating that ASRS, the board, board members, and their agents or employees have no liability for actions taken in performance of their duties under the article, and members or employers have no private right of action.

• Maintains existing exemptions allowing writs of attachment, execution, garnishment, and assignment orders for child support arrearages or debt.