Senate Bill 1352 Summary

• Allows employers to receive credits against future ASRS contributions instead of refunds when overpayments result from mistakes of fact, with refunds available only if requested within one year of overpayment.

• Requires ASRS to reduce refund amounts by losses attributable to excess contributions and prohibits payment of earnings on excess contributions to employers.

• Permits employers to correct contribution underpayments through payroll adjustments within the same fiscal year if the employee provides written consent.

• Prevents correction of member contributions to ASRS after the member's death, regardless of other applicable laws.