HB 2143 Arizona House · 57th Legislature - Second Regular Session

PSPRS; investments.

HB 2143 amends Arizona's Public Safety Personnel Retirement System (PSPRS) board rules to clarify board composition and investment authority. It specifies that non-member board members must have at least 10 years of relevant finance or pension experience (e.g., portfolio management, securities analysis, or public pension expertise). The bill explicitly allows the board to use third-party investment managers for certain assets like mutual funds, private equity, or real estate trusts, while maintaining the board’s ultimate oversight. This change affects how PSPRS funds are managed and invested, directly impacting the retirement system’s oversight structure and investment strategy.

Bill status passed 3 of 5 stages cleared

Introduction

Jan 2026

Committee Review

Feb 2026

House Passage

Feb 2026

Senate Passage

Governor

Introduced Jan 7, 2026 Last action Mar 3, 2026

Maddy AI version diff · 1 comparison

What changed between versions

Introduced Version → House Engrossed Version (02/26/2026) · 3 edits · Feb 26, 2026

MINOR

The bill was amended to add a new category of qualified professionals for the retirement system's board of trustees, expanding the pool of eligible experts to include senior executives in insurance, banking, underwriting, auditing, human resources, and risk management. The text also includes minor formatting updates and reorganization of the statute's layout.

Scope change

The bill's scope regarding board composition was expanded to include additional professional backgrounds, while the overall applicability of the retirement system remains unchanged.

ELIGIBILITY

Added a new eligibility criterion (subsection C, paragraph 8) allowing senior executives in insurance, banking, underwriting, auditing, human resources, or risk management to serve on the board of trustees.

TECHNICAL

Reorganized the layout of the statute text, converting line-by-line formatting into a more standard block format and adding reference headers.

Removed pre-printed metadata such as 'PREFILED' dates and internal reference titles that were not part of the final legislative text.

Floor votes · House Feb 26, 2026

How they voted

53–0

Passed · 7 other

Total votes 60

Feb 26, 2026

D Democratic27

23 Yea 4

85% Yea

R Republican33

30 Yea 3

90% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Feb 26, 2026

Lower · Passed

PASSED

lower

Feb 18, 2026

Lower · Passed

lower

1 primary · 0 co-sponsors