Vote — approved

Bill Gates	yes
Clint Hickman	yes
Jack Sellers	yes
Thomas Galvin	yes
Steve Gallardo	yes

74.PUBLIC SAFETY PERSONNEL RETIREMENT SYSTEM DEFERRED RETIREMENT OPTION PLAN EXTENSION Approve an extension to the Public Safety Personnel Retirement System (PSPRS) Deferred Retirement Option Plan (DROP) for eligible employees as outlined under S.B. 1268. Appointing Authorities may impose additional business-related requirements as long as they do not conflict with Arizona State Statute. Arizona’s Governor signed into law S.B. 1268 which allows employees in PSPRS to extend their participation in

Item Text

74. PUBLIC SAFETY PERSONNEL RETIREMENT SYSTEM DEFERRED RETIREMENT OPTION PLAN EXTENSION Approve an extension to the Public Safety Personnel Retirement System (PSPRS) Deferred Retirement Option Plan (DROP) for eligible employees as outlined under S.B. 1268. Appointing Authorities may impose additional business-related requirements as long as they do not conflict with Arizona State Statute. Arizona’s Governor signed into law S.B. 1268 which allows employees in PSPRS to extend their participation in DROP from 60 months to 84 months if approved by their employer. This was an emergency measure to help address recruitment and retention issues. Arizona State’s PSPRS DROP is a voluntary and irrevocable benefit program that offers eligible employees the opportunity to receive a one-time lump sum payment, at the time of retirement, in addition to their monthly retirement benefit. (C-31-23-005-X-00)

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