38-951. Definitions In this article, unless the context otherwise requires: 1. " Board" means the Arizona state retirement system board established by section 38-713 or the board of trustees established by section 38-848. 2. " Eligible group" means any of the following: (a) The Arizona state retirement system established by article 2 of this chapter. […]
38-952. Supplemental defined contribution plan; establishment; administration A. The board or employer of an eligible group may establish, administer, manage and operate a supplemental defined contribution plan. The board of trustees established by section 38-848 may establish a single supplemental defined contribution plan for all contributing members of the retirement system and plans it administers. […]
38-953. Supplemental option A. A supplemental defined contribution plan is in addition to and does not replace an employee’s existing state defined benefit retirement plan. B. Except as provided in subsection C, any contributing member of an eligible group that establishes a supplemental defined contribution plan as authorized by this article may participate in the […]
38-954. Vesting A. Employee contributions and earnings on employee contributions are immediately vested. B. Employer matching contributions, if any, and the earnings on employer matching contributions are vested and the employee is entitled to receive employer matching contributions and earnings on those contributions as follows: 1. If the employee has less than one year of […]
