AZ SCR1010

Requests the Secretary of State to return Senate Concurrent Resolution 1023 to the Legislature and submit a new constitutional amendment instead.

Proposes an amendment to Article XXIX, Section 1 of the Arizona Constitution establishing funding and governance standards for public retirement systems using actuarial methods consistent with generally accepted standards.

Designates retirement system assets as separate trust funds invested and administered solely in the interests of members and beneficiaries.

Establishes membership in public retirement systems as a contractual relationship protected under Article II, Section 25 of the Arizona Constitution.

Permits certain adjustments to the Public Safety Personnel Retirement System (per SB 1428), Corrections Officer Retirement Plan (per SB 1442), and Elected Officials' Retirement Plan (per SB 1292) while preserving the Legislature's authority to modify benefits for prospective members.