AZ HB2168

Clarifies that when ASRS (Arizona State Retirement System) members redeposit contributions to reinstate forfeited service credits, they redeposit amounts that ASRS paid rather than amounts the member originally received.

Allows members receiving benefits under section 38-797.07 who previously received a return of contributions to redeposit those contributions with interest to reinstate their forfeited service credits.

Requires members to pay interest on redeposited amounts at the interest rate assumption approved by the board for actuarial equivalency in order to reinstate service credits.

Provides that if a member redeposits less than the full required amount, ASRS shall proportionately reduce the member's reinstated service credits.

Maintains that reinstated members are subject to benefits and duties in effect at the time of most recent reemployment, except as provided in section 38-711, paragraph 5, subdivision (a).