Although A.R.S. § 38-615 has been changed effective 9/30/09 to grant the Department of Administration the authority to make lump sum payments for all who are RASL eligible, a change to the payment policy is not being made at this time.
Payment without deferred compensation
If the individual (retiree) meets the requirements listed above, the first payment for the accumulated sick leave is normally made between 60 to 90 days from receipt of a properly completed Form GAO-SL-50 and Checklist by the General Accounting Office. Any second payment is typically sent 1 year later, with any final payment sent 2 years after the first payment.
Deferred compensation option
As an alternative to a payment, the retiree may be eligible to rollover a portion of a payment into the State of Arizona sponsored deferred compensation program. To make a rollover into the deferred compensation program, the retiree must meet, at a minimum, the following requirements:
- Enroll in the State sponsored deferred compensation program prior to termination from State service; and
- Complete and return Form GAO-SL-50 and Checklist within 30 calendar days after termination of State employment (the retiree does not have 180 days to submit Form GAO-SL-50 and Checklist with this option); and
- Submit a “Deferral Notification Form” directly to the State sponsored deferred compensation provider. To determine an estimated deferral amount, refer to the “Deferred Compensation Calculator” below.