Ariz. Admin. Code § 2-8-129

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

Section R2-8-129 - Period Certain and Life Annuity Retirement Options

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

B. An individual who is 104 years of age or older at the time of retirement is not eligible to elect a Period Certain and Life Annuity Retirement Benefit Option.

C. An individual who is 93 years of age or older at the time of retirement is not eligible to elect a Period Certain and Life Annuity Retirement Benefit Option with ten years certain or 15 years certain.

D. An individual who is 85 years of age or older at the time of retirement is not eligible to elect a Period Certain and Life Annuity Retirement Benefit Option with 15 years certain.

E. The ASRS shall calculate the period certain term as beginning on the first day of the first full calendar month following the member's Applicable Retirement Date.

F. Notwithstanding subsection (E), the ASRS shall calculate the period certain term as beginning on the member's Applicable Retirement Date if the member's Applicable Retirement Date is the first day of the month.

Ariz. Admin. Code § R2-8-129

Adopted by final rulemaking at 26 A.A.R. 2036, effective 11/8/2020.