SB 1329 Summary

• Modifies group health and accident coverage provisions for retired public employees by replacing references to "the state of Arizona" with "this state" in section 38-651.01.

• Amends section 38-845 to increase the ordinary disability pension calculation by changing the divisor from "twenty" to "the member's required credited service for the applicable normal retirement date."

• Adds new subsection I to section 38-857 to extend health insurance subsidy payments to retired participants of the public safety personnel defined contribution retirement plan who meet normal retirement date requirements under section 38-842.

• Adds corresponding new subsection I to section 38-906 extending the same health insurance subsidy eligibility to the corrections officer retirement plan on the same terms as section 38-857.

• Clarifies that health insurance subsidy payments are limited to amounts specified in the statute and establishes definitions for "participant" references in the affected retirement plans.