AZ SCR1019

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

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

Establishes that retirement system assets are separate trust funds invested and administered solely in the interests of members and beneficiaries.

Protects public retirement system benefits from diminishment or impairment, with exception for certain adjustments to public safety personnel retirement system under Senate Bill 1428.

Preserves legislature's authority to modify retirement benefits for prospective (future) members of public retirement systems.