Arizona Laws 38-797. Definitions
In this article, unless the context otherwise requires:
Terms Used In Arizona Laws 38-797
- ASRS: means the Arizona state retirement system established by article 2 of this chapter. See Arizona Laws 38-797
- Board: means the ASRS board established pursuant to section 38-713. See Arizona Laws 38-797
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- LTD program: means the long-term disability program established by this article. See Arizona Laws 38-797
- Monthly compensation: means the amount determined by taking the six pay periods immediately before the date of the member's disability in the fiscal year in which the member develops a disability, disregarding the highest two and lowest two compensation amount pay periods and deriving the mean of the two remaining pay periods. See Arizona Laws 38-797
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 meaning prescribed in section 38-711.
5. "Depository" means a bank in which the monies of the LTD program are deposited and collateralized as provided by law.
6. "Employer" has the same meaning prescribed in section 38-711.
7. "Employer contributions" means all amounts paid into the LTD program by an employer.
8. "Fiscal year" has the same meaning prescribed in section 38-711.
9. "LTD program" means the long-term disability program established by this article.
10. "Member" has the same meaning prescribed in section 38-711.
11. "Monthly compensation" means the amount determined by taking the six pay periods immediately before the date of the member’s disability in the fiscal year in which the member develops a disability, disregarding the highest two and lowest two compensation amount pay periods and deriving the mean of the two remaining pay periods. If the member was employed for fewer than six pay periods, monthly compensation is determined by deriving the mean of the number of pay periods the member worked in the fiscal year in which the member develops a disability.
12. "Normal retirement date" has the same meaning prescribed in section 38-711.
13. "Political subdivision" has the same meaning prescribed in section 38-711.
14. "State" has the same meaning prescribed in section 38-711.