Ariz. Admin. Code § 2-8-128

Current through Register Vol. 30, No. 24, June 14, 2024

Section R2-8-128 - Joint and Survivor Retirement Benefit Options

A. The definitions in R2-8-126 apply to this Section.

B. A member who is ten years and one day, or more, older than the member's non-spouse contingent annuitant is not eligible to elect a 100% Joint and Survivor Retirement Benefit Option.

C. A member who is 24 years and one day, or more, older than the member's non-spouse contingent annuitant is not eligible to elect a 66 2/3% Joint and Survivor Retirement Benefit Option.

D. For members whose Original Retirement Date is on or after March 6, 2016, notwithstanding subsection (B), a member who is ten years and one day, or more, older than the member's ex-spouse contingent annuitant is eligible to participate in a 100% Joint and Survivor Retirement Benefit Option, if:

1. The member elected the ex-spouse as the contingent annuitant prior to divorce from the ex-spouse; and

2. The member submits a DRO to ASRS which requires the ex-spouse to remain as the contingent annuitant on the member's account.

E. For members whose Original Retirement Date is on or after March 6, 2016, notwithstanding subsection (C), a member who is 24 years and one day, or more, older than the member's ex-spouse contingent annuitant is eligible to participate in a 66 2/3% Joint and Survivor Retirement Benefit Option, if:

1. The member elected the ex-spouse as the contingent annuitant prior to divorce from the ex-spouse; and

2. The member submits a DRO to the ASRS which requires the ex-spouse to remain as the contingent annuitant on the member's account.

F. Notwithstanding any other Section, for purposes of determining whether a member is eligible to participate in a Joint and Survivor Retirement Benefit Option, the ASRS shall calculate the difference in a member's age and the contingent annuitant's age based on the birthdates of the member and the contingent annuitant. For purposes of this Section, a contingent annuitant must be a living person.

Ariz. Admin. Code § R2-8-128

Adopted by final rulemaking at 26 A.A.R. 2036, effective 11/8/2020. Amended by final rulemaking at 28 A.A.R. 1746, effective 9/4/2022.