Section R2-8-104. Definitions

A.      The definitions in A.R.S. § 38-711 apply to this Chapter.

B.       Unless otherwise specified, in this Chapter:

1.        “Actuarial assumption” means an estimate of an uncer- tain future event that affects pension liabilities, or assets, or both.

2.        “Authorized employer representative” means an individ- ual specified by the ASRS employer to provide the ASRS with information about a member who previously worked for the ASRS employer.

3.        “Contribution” means:

a.         Amounts required by A.R.S. Title 38, Chapter 5, Article 2 to be paid to the ASRS by a member or an employer on behalf of a member other than amounts attributed to the long-term disability program;

b.        Any voluntary amounts paid to the ASRS by a mem- ber to be placed in the member’s account; and

c.         Amounts credited by transfer under A.R.S. § 38- 924.

4.        “Day” means a calendar day, and excludes the:

a.         Day of the act or event from which a designated period of time begins to run; and

b.        Last day of the period if a Saturday, Sunday, or offi- cial state holiday.

5.        “Designated beneficiary” means the same as in A.R.S. § 38-762(G).

6.        “Director” means the Director appointed by the Board as provided in A.R.S. § 38-715.

7.        “Individual retirement account” or “IRA” means the types of eligible retirement plans specified in A.R.S. § 38-770(D)(3)(a) and (b).

8.        “Investment return rate” means a percentage of total return on an asset.

9.        “Party” means the same as in A.R.S. § 41-1001(14).

10.     “Person” means the same as in A.R.S. § 41-1001(15).

11.     “Plan”  means  the  same  as  “defined  benefit  plan”  in

A.R.S. § 38-712(B), and as administered by the ASRS.

12.     “Retirement account” means the same as in A.R.S. § 38- 771(J)(2).

13.     “Rollover” means a contribution to the ASRS by an eligi- ble member of an eligible rollover distribution from one or more of the retirement plans listed in A.R.S. § 38- 747(H)(2) and (H)(3).

14.     “System” means the same as “defined contribution plan” in A.R.S. § 38-769(O)(7), and as administered by the ASRS.

15.     “Terminate employment” means to end the employment relationship between a member and an ASRS employer with the intent that the member does not return to employment with an ASRS employer.

16.     “United States” means the same as in A.R.S. § 1-215(39).

Historical Note

Former Rule, Social Security Regulation 4; Former Section R2-8-04 renumbered as Section R2-8-104 without change effective May 21, 1982 (Supp. 82-3).

Amended subsections (G), (J), and (K) effective April 12, 1984 (Supp. 84-2). Typographical error corrected in subsection (5)(c) “reqired” corrected to “required” (Supp.

97-1). Amended by final rulemaking at 21 A.A.R. 2515,

effective December 5, 2015 (Supp. 15-4).