AZ SB1121

Removes the July 1, 2015 deadline for persons age 65 and older to elect not to participate in the Arizona State Retirement System (ASRS), allowing this opt-out to continue indefinitely.

Permits employees who become employed after reaching age 65, have no prior ASRS membership or service, to make an irrevocable election not to participate in ASRS within 30 days of employment.

Work periods for employees who elect not to participate are ineligible for purchase under sections 38-743 or 38-744 and constitute a waiver of all ASRS benefits.

Makes clarifying grammatical and terminology changes to existing ASRS eligibility provisions regarding state elected officials and disabled members.

Designates the act as an emergency measure operative immediately upon passage.