The Corrections Officer Retirement Plan (CORP) was created by Laws 1986, Chapter 325. It is one of three plans administered by the Public Safety Personnel Retirement System. Current authority can be found at A.R.S.§§38-881 et seq.
CORP provides uniform retirement and disability benefits for specifically designated positions listed in statute, which includes State of Arizona corrections officers and employees as well as county, city or town detention officers, dispatchers and probation officers (A.R.S.§38-881).
The Board of Trustees for the Public Safety Personnel Retirement System provides oversight for investments pursuant to A.R.S.§38-883. Although the Board is not responsible for the actions or omissions of the local boards, it has the authority to seek review or rehearing in order to protect the System as a whole. The Board of Trustees is made up of seven members, appointed by the Governor to five-year terms.
Statute requires each employer group participating in CORP to establish a local board and assigns numerous responsibilities to each board. Each local board determines eligibility for membership, retirement benefits based on years of service, and survivor benefits.
Laws 1986, Chapter 325 created CORP and authorized the fund manager for the Public Safety Personnel Retirement System (PSPRS) to manage CORP’s monies and investments. The initial formula created a pension that provided up to 75% of a member’s average annual salary, which was calculated by multiplying years of service by 2. Retirement began at age 62 (requiring a minimum 10 years of service) or at age 55 (with a minimum 25 years of service). Benefits included pensions for accidental disability and survivor benefits. Both the retirement age and the pension formula have been modified in the years since CORP was created.
Initially, only counties could enter into a joinder agreement; in order to do so they were required to end any existing corrections officer retirement plan and submit to an actuarial review to determine the amount of money they needed to add to the fund.
Laws 1990, Chapter 272 added local boards, similar to those used by the PSPRS, to handle local administration of CORP. Local boards for the State Department of Corrections, the State Department of Juvenile Corrections, and each participating county were authorized in order to administer and implement the plan’s provisions with regard to eligibility and service credit. The measure also established requirements for serving on the local board; outlined board powers and duties; allowed up to four years of military service to be converted to service credits; provided benefit increases for members; and established a death benefit for those not yet eligible for a pension.
Laws 1991, Chapter 155 allowed municipalities to join CORP and required local boards to be established. The measure also allowed a municipality to enter into a joinder agreement in order to bring its detention officers into the plan.
Laws 1996, Chapter 282 allowed a local board to specify that a position was designated as eligible for CORP if an employee with at least five years service filled the position.
Laws 2007, Chapter 87 allowed pensions to be diverted to an alternate payee if compelled by a domestic relations order.
Laws 2008, Chapter 144 allowed detention officers employed by the Department of Public Safety to participate in CORP and included DPS in the list of agencies required to establish a local board.
Laws 2010, Chapter 200 removed the PSPRS fund manager position and replaced it with the PSPRS Board of Trustees which continued to administer the investment portion of CORP. The Board of Trustees also retained the power to call for a rehearing of a local board decision.
- A.R.S.§§38-881 et seq.
- Session Laws
- Laws 1986, Chapter 325
- Laws 1990, Chapter 272
- Laws 1991, Chapter 155
- Laws 1996, Chapter 282
- Laws 2007, Chapter 87
- Laws 2008, Chapter 144
- Laws 2010, Chapter 200
- CORP Annual Reports www.psprs.com