Terms Used In Arizona Laws > Title 38 > Chapter 5 > Article 3.1 - Elected Officials' Defined Contribution Retirement System

• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• Annuity account: means an account that is established for each member to record the deposit of member contributions, employer contributions and interest, dividends or other accumulations credited on behalf of the member. See Arizona Laws 38-831
• Board: means the board of trustees of the public safety personnel retirement system established by section 38-848. See Arizona Laws 38-831
• Contract: A legal written agreement that becomes binding when signed.
• Defined contribution system: means the elected officials' defined contribution retirement system established pursuant to this article. See Arizona Laws 38-831
• Elected official: means :

  (a) Every elected official of this state who was elected or appointed on or after January 1, 2014 and who was not an active, an inactive, a disabled or a retired member of the plan on December 31, 2013. See Arizona Laws 38-831

• Employer: means a department or political subdivision of this state that makes employer contributions to the defined contribution system on behalf of a member. See Arizona Laws 38-831
• including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
• Member: means an elected official under the defined contribution system. See Arizona Laws 38-831
• Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215
• Plan: means the elected officials' retirement plan established by article 3 of this chapter. See Arizona Laws 38-831
• Process: means a citation, writ or summons issued in the course of judicial proceedings. See Arizona Laws 1-215
• United States: includes the District of Columbia and the territories. See Arizona Laws 1-215