AZ SCR1023

Proposes an amendment to Article XXIX, Section 1 of the Arizona Constitution regarding public retirement systems and the Corrections Officer Retirement Plan (CORP).

Adds a new exception to the constitutional prohibition on diminishing or impairing public retirement system benefits, allowing certain adjustments to the Corrections Officer Retirement Plan as provided in Senate Bill 1442 from the 53rd Legislature, First Regular Session.

Maintains existing constitutional protections for public retirement system assets as separate trust funds invested solely in the interests of members and beneficiaries.

Requires the Secretary of State to submit the proposition to voters at the next general election for approval.

Preserves the legislature's authority to modify public retirement system benefits for prospective members while protecting existing member benefits.