AZ HB2429

Appropriates $3,000,000 annually from the state general fund to the Department of Administration for fiscal years 2019-2020 through 2042-2043 to help counties pay employer contributions to the elected officials' retirement plan.

Requires the Department of Administration to allocate the annual appropriation equally among all counties with a population of less than 350,000 persons.

Specifies that counties may only use these funds for required employer contributions to the elected officials' retirement plan and to supplement normal cost plus unfunded accrued liability amortization.

Supplements existing law that previously appropriated $5,000,000 annually (fiscal years 2013-2014 through 2042-2043) directly to the elected officials' retirement plan fund.