AZ HB2028

Reduces member contribution rates for employees hired before July 1, 2017 to 7.65 percent of compensation starting fiscal year 2023-2024, down from the previous variable rate structure.

Allows accumulated excess member contributions (above 7.65 percent) collected between June 30, 2011 and June 30, 2023 to be used in calculating employer contributions after June 30, 2023.

Maintains the 50/50 cost-sharing structure between employers and members for employees hired on or after July 1, 2017, with contributions calculated through risk pool or employer-specific actuarial valuations.

Applies retroactively to June 30, 2023 and is designated as an emergency measure effective immediately.

Designated as Chapter 102 of Arizona law and approved by the Governor on May 1, 2023.