Updates to the Retirement Plans For Arizona State Employees

This may be of interest to those of you out there who are participants in the Arizona State Retirement System.  It includes an update on recent legislative changes.

Arizona State Retirement System logo
NEWSLETTERA publication of the Arizona State Retirement System
Director’s MessageASRS DIRECTOR PAUL MATSONWelcome to the inaugural edition of the ASRS electronic newsletter! We hope you find it useful and informative.

Over the past few months, we’ve reviewed our email database – email addresses our members have provided to us – and have sent welcome emails to more than 250,000 members. Now we’re sending you this e-newsletter with important member updates.

It’s our mission to stay in touch with you periodically, keeping you up-to-date on important issues related to your ASRS benefit plan. We won’t bombard you with emails, but we do want to be sure you have the latest, most timely information possible.

In this issue, we will tell you about laws passed in the most recent session of the Arizona Legislature. While some of the information may not pertain to your specific situation, it’s good to be aware of these changes should your situation change in the future.

I hope you will take a few minutes to review the information below. I would also like to invite you to visit the ASRS website to learn more about your retirement plan, particularly those members who have not yet created their own personal ASRS login. It’s easy to do – just look for the “Login Here” button at the bottom of this publication.

Arizona State Capital BuildingLegislative UpdatesActive members have likely already noticed that the contribution rates have returned to an equal 50/50 percent split between employees and employers. And, beginning August 2nd, members will need only five years of credited service to initiate a Service Purchase request, down from the previous requirement of 10 years. For more information on legislative changes, read our Legislative Summary.Each fiscal year, the contribution rates are adjusted, effective July 1st. The new rate for the next fiscal year will be 11.14%. To learn more, see Contribution Rates.
Retiree enjoying coffee while she uses her laptop.Member EducationIt’s never too early to plan for your retirement! Online webinars, in-person group meetings, and online video tutorials are part of our commitment to provide you the information and support you need. Whether you are new to the ASRS or are closing in on retirement, we have a learning opportunity to provide the information for this juncture in your career. Visit the Member Education section to schedule your meeting or appointment today!
ASRS member publications. Shown are the 2012 Annual Report and Member Handbook.Member PublicationsThe Arizona State Retirement System regularly publishes member newsletters and other reports. Whether you are enjoying your retirement or still looking forward to it, these publications can provide meaningful insight about the ASRS:FINANCIAL REPORTS. For a reader-friendly summary of the ASRS’ finances, investments, actuarial calculations and general statistics about the agency, view the 2011 Popular Annual Financial Report (PAFR). For a more in-depth analysis, please refer to the 2011 Comprehensive Annual Financial Report (CAFR).

MEMBER PUBLICATIONS. The Member Handbook provides an overview and explanation of membership benefits. Additionally, members may find helpful information in the Retirement Handbook and our Long Term Disability brochure.

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