As a member of the Arizona State Retirement System (ASRS), both you and your employer contribute toward your future retirement. These contributions make it possible for ASRS to provide a variety of benefits, including a lifetime monthly income once you retire.

Your total contribution rate is actually the sum of multiple parts: the Pension contributions, which are deducted pre-tax, and the Long-Term Disability Income Plan contributions, which are deducted post-tax.

How Often Do Contribution Rates Change?

When was the last time you reviewed your beneficiary information? For many members, beneficiary designations are completed when they first enroll and then forgotten. However, life changes such as marriage, divorce, the birth of a child, or the passing of a loved one can make it important to revisit those choices and ensure they still reflect your wishes.

Updating your beneficiary information is one of the simplest steps you can take to help protect your loved ones and avoid complications in the future.

One common budgeting oversight we see from members planning their retirement is comparing their estimated future pension amount against their current monthly bills to see if they can afford to retire. The oversight? Focusing on what their bills currently are, not what their bills will be. This is especially true when it comes to health insurance costs – and even more so if you won't be 65 and Medicare-eligible when you retire.