2017 Arizona Revised Statutes
Title 38 - Public Officers and Employees
§ 38-867.01 Rollover distribution from the system; definition
38-867.01. Rollover distribution from the system; definition
A. A lump sum distribution made pursuant to section 38-844.08, subsection B shall be deposited in the account of the participant as defined in this section and made immediately available for the participant to either withdraw all or any portion of the lump sum deposit or directly transfer all or any portion of the lump sum deposit to an eligible retirement plan as required by section 401(a)(31) of the internal revenue code.
B. For the purposes of this section, " participant" means a member as defined in section 38-842, paragraph 31, excluding subdivision (a), item (vi), who is hired before January 1, 2012 and who has elected to enter the deferred retirement option plan established by section 38-844.02.
