Ariz. Admin. Code § 2-8-505

Current through Register Vol. 30, No. 25, June 21, 2024

Section R2-8-505 - Restrictions on Purchasing Overlapping Service Credit

A. The ASRS shall not permit an Eligible Member to purchase Service Credit that, when added to credited service earned in any plan year, results in more than:

1. One year of credited service in any plan year, or

2. One month of credited service in any one calendar month.

B. A member may not purchase Service Credit for any period of time for which the member is eligible to receive retirement benefits from another public employee retirement system.

C. For purposes of this section, "another public employee retirement system" means any retirement plan providing retirement benefits and maintained by the United States government, a state, territory, commonwealth, overseas possession or insular area of the United State or a political subdivision of a state, territory, commonwealth, overseas possession or insular area of the United States.

Ariz. Admin. Code § R2-8-505

New Section made by final rulemaking at 11 A.A.R. 2640, effective June 30, 2005 (Supp. 05-2). Amended by final rulemaking at 25 A.A.R. 303, effective 3/18/2019. Amended by final rulemaking at 28 A.A.R. 1257, effective 7/17/2022.