A. On or before December 31 of each year, the board of trustees shall provide to the legislature and the joint legislative budget committee and shall post on its website the shared cost structure of employees and employers, the funding status and the rate of return. The report to the legislature shall include when the trigger to the reduction in the employee rates is being met.
Terms Used In Arizona Laws 38-848.02
- Board: means the board of trustees of the system, who are the persons appointed to invest and operate the fund. See Arizona Laws 38-842
- Employee: means any person who is employed by a participating employer and who is a member of an eligible group but does not include any persons compensated on a contractual or fee basis. See Arizona Laws 38-842
- Employers: means :
(a) Cities contributing to the fire fighters' relief and pension fund as provided in sections 9-951 through 9-971 or statutes amended thereby and antecedent thereto, as of June 30, 1968 on behalf of their full-time paid firefighters. See Arizona Laws 38-842
B. The board of trustees shall post on its website for each plan the board administers each employer’s funding ratio.