HB 2433 Summary

• Amends Arizona Revised Statutes sections 38-773, 38-822, 38-860, and 38-910 governing domestic relations orders in state retirement plans (ASRS, PSPRS, EORP, and judges' retirement plan).

• Establishes that the value of a participant's benefit in a domestic relations order shall be calculated as of the earliest date of service of the petition for annulment, dissolution of marriage, or legal separation.

• Makes technical corrections to language in domestic relations order procedures, including clarifying references to "the board's" acceptance and replacing archaic phrasing with modern terminology.

• Applies consistent domestic relations order requirements across all four state retirement plans regarding benefit payments to alternate payees, including procedures for determination periods, cure periods, and handling of segregated funds.