A. If an individual becomes entitled to a pension or other benefit payable by the retirement plan as a result of an accident or injury caused by the act of a third party, the fund is subrogated to the rights of the individual against the third party to the extent of fund financed benefits which the retirement plan pays or becomes liable for payment.

Terms Used In Arizona Laws 38-898

  • Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. Source: OCC
  • Fraud: Intentional deception resulting in injury to another.
  • Fund: means the corrections officer retirement plan fund. See Arizona Laws 38-881
  • Pension: means a series of monthly payments by the retirement plan but does not include an annuity that is payable pursuant to section 38-911. See Arizona Laws 38-881
  • plan: means the corrections officer retirement plan established by this article. See Arizona Laws 38-881
  • Retired member: means an individual who terminates employment and who is receiving a pension pursuant to either section 38-885 or 38-886. See Arizona Laws 38-881

B. The retirement plan is entitled to the right of setoff to recover overpayments made by the retirement plan and to satisfy any claim arising from embezzlement or fraud committed by a member, retired member, former member, beneficiary or other individual having a claim to benefits.

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