AZ SB1053

Amends Arizona Revised Statutes Section 38-714 to expand the Arizona State Retirement System (ASRS) board's authority to determine rights, benefits, and obligations of members under articles 2.1 and 7 of the chapter.

Authorizes the board to delegate its hearing and adjudication duties to a board committee for decisions under title 41, chapter 6, article 10.

Requires the board to submit annual fiscal reports to the governor and legislature within 8 months of fiscal year-end, including actuarial valuations, investment lists upon request, and private equity fee estimates.

Prohibits the board from advocating for or against benefit modification legislation, though it may provide technical and administrative information on the impact of such legislation.

Board remains exempt from most of title 41, chapter 6 requirements except regarding actuarial assumptions, investment decisions, and accounting methodology.