AZ SB1253

Amends section 38-891.01 of Arizona Revised Statutes regarding the Corrections Officer Retirement Plan.

Requires employers to pay contributions at an alternate rate for retired members who return to work in designated positions after being retired for more than 12 consecutive months.

Sets the alternate contribution rate equal to the portion of total required contribution applied to amortization of unfunded actuarial accrued liability, with a minimum rate of six percent in any fiscal year.

Specifies that all employer contributions to the fund are irrevocable and shall be used for plan benefits or expenses, with delinquent payments subject to interest charges.

Requires employers to submit reports, data, and materials requested by the board to determine compensation and evaluate the return to work program's operation.