Ariz. Rev. Stat. § 38-876 – Deferred compensation plan; administration

A. The board shall establish, design and administer a deferred compensation plan in which a participant may participate.
B. The board, in the administration, management and operation of the deferred compensation plan, may:
1. 1. Employ services as it deems necessary, including legal services, for the operation and administration of the deferred compensation plan.
2. 2. Administer the deferred compensation plan through contracts with multiple vendors.
3. 3. Perform all acts that it deems necessary and proper for the operation and protection of the deferred compensation plan.