Arizona § 38-862 - Discount rate; service purchase; transfer of service credits
Full text of Arizona Arizona Revised Statutes § 38-862 — Discount rate; service purchase; transfer of service credits, with citation guidance and answers to common questions.
§ 38-862. Discount rate; service purchase; transfer of service credits
A. Beginning July 1, 2017, the discount rate specified in subsection B of this section applies to service purchases or transfers of service credits to the system pursuant to the following sections:
1. Section 38-849, subsection D.
2. Section 38-853.01, subsection C.
3. Section 38-858, subsection A or B.
4. Sections 38-921, 38-922, 38-923 and 38-924.
B. For members enrolled in the system:
1. Before July 1, 2017, the discount rate is the assumed rate of return that is prescribed by the board.
2. On or after July 1, 2017, the discount rate is an amount equal to the lesser of the assumed rate of return that is prescribed by the board or an amount equal to the yield on a ten-year treasury note as of March 1 that is published by the federal reserve board plus two percent. The discount rate is effective beginning in the next fiscal year, and the board shall recalculate the rate each year.
Source: official Arizona text · Last verified 2026-08-27
Frequently Asked Questions About Arizona § 38-862
What does Arizona Revised Statutes § 38-862 cover?
Section 38-862 ("Discount rate; service purchase; transfer of service credits") is part of the Arizona Revised Statutes, the codified statutory law of Arizona. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arizona § 38-862?
A common citation format is "Arizona Revised Statutes § 38-862" (Arizona). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arizona law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arizona official source linked on this page or consult a licensed Arizona attorney.
How does Arizona § 38-862 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arizona can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arizona.