§ 38-797.15 – Interest paid to members and employers
38-797.15. Interest paid to members and employers ASRS may not pay interest on any amount paid to a member, an alternate payee or an employer pursuant to this article unless specifically authorized by this article.
§ 38-797.14 – Liquidation of LTD program
38-797.14. Liquidation of LTD program If the legislature determines that the LTD program is no longer to be operated for the purposes set forth in this article, any monies remaining in the LTD trust after paying all liabilities of the trust or after making adequate provision for paying those liabilities revert to the general funds […]
§ 38-797 – Definitions
38-797. Definitions In this article, unless the context otherwise requires: 1. " ASRS" means the Arizona state retirement system established by article 2 of this chapter. 2. " Assets" means the accumulated resources of the LTD program. 3. " Board" means the ASRS board established pursuant to section 38-713. 4. " Compensation" has the same […]
§ 38-797.01 – LTD program
38-797.01. LTD program A. A long-term disability program is established. B. The program is known as the LTD program.
§ 38-797.02 – LTD trust fund
38-797.02. LTD trust fund A. The LTD trust fund is established for the purpose of paying benefits under and costs of administering the LTD program. B. The LTD trust fund consists of all monies paid into it in accordance with this article, whether in the form of cash, securities or other assets, and all monies […]
§ 38-797.03 – ASRS board; personnel; duties; hearing or review; executive session
38-797.03. ASRS board; personnel; duties; hearing or review; executive session A. The board shall administer the LTD program. ASRS officers, contractors and personnel shall perform the duties prescribed by this article. B. The board may determine the rights, benefits or obligations of any person under this article and afford any person dissatisfied with a determination […]
§ 38-797.04 – Eligibility
38-797.04. Eligibility All members are subject to this article and shall participate in the LTD program.
§ 38-797.05 – Employer and member contributions
38-797.05. Employer and member contributions A. Beginning July 1, 2011, employers shall contribute the percentage of the compensation of all of the members under their employment so that the total employer contributions equals the amount that the board determines is necessary to pay one-half of all benefits under and costs of administering the LTD program. […]
§ 38-797.06 – Contribution rate; annual report
38-797.06. Contribution rate; annual report A. The board shall select an actuary to determine required employer contributions on an annual basis. The actuary shall be a fellow of the society of actuaries. B. Employer contributions shall be a percentage of compensation of all employees of the employers who meet the eligibility requirements of article 2 […]
§ 38-797.07 – LTD program benefits; limitations; definitions
38-797.07. LTD program benefits; limitations; definitions A. The LTD program is subject to the following limitations: 1. Except as provided in paragraph 9 of this subsection, monthly LTD program benefits shall not exceed two-thirds of a member’s monthly compensation, reduced by: (a) For a member whose disability commences before July 1, 2008, sixty-four percent of […]