Arizona Laws 38-792. Exemptions from execution, attachment and taxation; exception
A. The benefits and annuities, the member and employer contributions and the securities in ASRS accounts provided for in this article are not subject to execution or attachment and are nonassignable except as specifically provided in this article. The member and employer contributions and the securities in ASRS accounts are exempt from state, county and municipal income taxes. Contributions that are withdrawn after December 31, 1974 by a public officer or employee from the accounts of ASRS and that are not received as benefits from ASRS and benefits and annuities received by a public officer or employee from ASRS after December 31, 1988 are subject to tax pursuant to title 43.
Terms Used In Arizona Laws 38-792
- ASRS: means the Arizona state retirement system established by this article. See Arizona Laws 38-711
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- Employer: means :
(a) This state. See Arizona Laws 38-711
- Employer contributions: means all amounts paid into ASRS by an employer on behalf of a member. See Arizona Laws 38-711
- Interest: means the assumed actuarial investment earnings rate approved by the board. See Arizona Laws 38-711
- public officer: means the incumbent of any office, member of any board or commission, or his deputy or assistant exercising the powers and duties of the officer, other than clerks or mere employees of the officer. See Arizona Laws 38-101
- State: means this state, including any department, office, board, commission, agency, institution or other instrumentality of this state. See Arizona Laws 38-711
B. Interest, earnings and all other credits pertaining to benefits and annuities are not subject to execution or attachment and are nonassignable.