Section R13-8-109. Benefits Calculations

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A.      The local board delegates to the secretary the calculation of DROP benefits, service retirement benefits, disability retire- ment benefits, and death benefits for surviving spouses of members and retired members, guardians, and eligible chil- dren.

B.       Subsequent to the issuance of a member’s last paycheck, the secretary shall calculate the member’s service retirement bene- fits or the disability retirement benefits.

C.      Subsequent to a member’s last contribution to the System after approval of the member’s participation in DROP, the secretary shall calculate the member’s DROP benefit.

D.      The member, surviving spouse, guardian, or eligible child shall receive notification of the calculation of benefits by receiving benefits from the system or by certified mail.

Historical Note

Adopted effective July 22, 1994 (Supp. 94-3). Amended by final rulemaking at 13 A.A.R. 1801, effective June 30, 2007 (Supp. 07-2).

                    
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