§ 38-844.04 Termination of deferred retirement option plan participation

AZ Rev Stat § 38-844.04 (2019) (N/A)

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38-844.04. Termination of deferred retirement option plan participation

A. A member may terminate participation in the deferred retirement option plan by voluntarily terminating employment at any time before the completion of the deferred retirement option plan participation period designated by the member on the appropriate deferred retirement option plan participation form.

B. Participation in the deferred retirement option plan terminates on the first occurrence of any of the following:

1. Completion of the deferred retirement option plan participation period designated by the member on the appropriate deferred retirement option plan participation form.

2. Termination of employment. If termination of employment for cause is reversed, a member's participation in the deferred retirement option plan, minus any benefits previously distributed pursuant to this article, shall be reinstated for the duration of the original deferred retirement option plan participation period designated by the member on the appropriate deferred retirement option plan participation form.

3. Death of the member.

4. Approval of disability retirement benefits pursuant to section 38-844, subsection B.

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§ 38-844.03 Eligibility; participation

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§ 38-844.05 Deferred retirement option benefits and participation accounts