AZ HB2812

Increases the maximum payment cap for accumulated sick leave upon retirement from $30,000 to $57,600 for state and county officers and employees

Maintains the existing tiered payout structure: 25% for 500-749 hours, 33% for 750-999 hours, and 50% for 1,000+ hours of accumulated sick leave (up to 1,500 hours)

Requires employees to establish a retirement date within 31 days of termination and qualify with an authorized state retirement system to receive payments

Allows payment as either a lump sum or installments over a three-year period, with beneficiaries entitled to any remaining balance if the employee dies

Applies to employees in the Arizona State Retirement System, Public Safety Personnel Retirement System, Corrections Officer Retirement Plan, and Arizona Board of Regents optional retirement programs