The Arizona Revised Statutes have been updated to include the revised sections from the 56th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 56th Legislature, 2nd Regular Session, which convenes in January 2024.
DISCLAIMER
This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
A. Employee contributions and earnings on employee contributions are immediately vested.
B. Employer matching contributions, if any, and the earnings on employer matching contributions are vested and the employee is entitled to receive employer matching contributions and earnings on those contributions as follows:
1. If the employee has less than one year of credited service in an eligible group, zero per cent.
2. If the employee has at least one year but less than two years of credited service in an eligible group, twenty per cent.
3. If the employee has at least two years but less than three years of credited service in an eligible group, forty per cent.
4. If the employee has at least three years but less than four years of credited service in an eligible group, sixty per cent.
5. If the employee has at least four years but less than five years of credited service in an eligible group, eighty per cent.
6. If the employee has at least five years of credited service in an eligible group, one hundred per cent.
C. All nonvested employer contributions and earnings on those contributions may be used to pay for the administrative costs of the plan.