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OneAZ Credit Union was founded as the Arizona State Employees' Credit Union on October 31, 1951, as a credit union for state employees. The field of membership expanded over time to include most of the state, as well as faculty, students, staff and alumni of Arizona's three major public universities, along with employees of other companies.
The state government is Arizona's largest employer, while Banner Health is the state's largest private employer, with more than 39,000 employees (2016). As of August 2020 [update] , the state's unemployment rate was 5.9%.
In many states, public employee pension plans are known as Public Employee Retirement Systems (PERS). Pension benefits may or may not be changed after an employee is hired, depending on the state and plan, as well as hiring date, years of service, and grandfathering. Retirement age in the public sector is usually lower than in the private sector.
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Arizona began providing benefits to same-sex partners of state employees in 2008. [49] A 2009 statute made domestic partners of state employees ineligible for health care benefits, but a group of state employees in same-sex relationships succeeded in having a federal district court judge issue an injunction preventing the law from taking effect.
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