AZ HB2872

Establishes fiduciary guidelines for labor organizations collecting benefit monies or union dues, requiring compliance with standards similar to employer benefit plan administrators in Arizona.

Mandates annual consolidated disclosures to members and employers within 60 days of fiscal year-end, including total revenue/expenditures by benefit category, hourly collection rates, monthly premium costs, payment lists, and reconciliations of differences.

Requires labor organizations to use generally accepted accounting principles for accounting methods and allows members to choose benefits from their employer or outside providers instead of union-provided benefits, with employers withholding corresponding fringe charges.

Requires refund or deposit into defined contribution plans within 75 days of year-end for any fringe benefit contributions exceeding union costs, and prohibits accepting dues for non-voluntary members without affirmative written consent.

Applies to labor organizations collecting monies on behalf of Arizona residents or employers domiciled in Arizona, but excludes employees of political subdivisions and federal government.