Section R2-8-513.01. Irrevocable Payroll Deduction Authorization and Transfer of Employment to a Different ASRS Employer

A.      An Irrevocable Payroll Deduction Authorization continues if a member transfers employment.

B.       An Irrevocable Payroll Deduction Authorization ends if a member terminates employment without having accepted an offer to work for a new ASRS employer, and the member is not already an active member working for a different ASRS employer. The member shall then pay off the Irrevocable Pay- roll Deduction Authorization as specified in R2-8-513(J).

C.      If a retirement contribution is due from the new ASRS employer within 120 days from the member’s termination date with the previous employer, there is a rebuttable presumption that there is a transfer of employment. If a retirement contribu- tion is not received within 120 days, the Irrevocable Payroll Deduction Authorization terminates.

Historical Note

New Section made by final rulemaking at 12 A.A.R. 4667, effective December 5, 2006 (Supp. 06-4).