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The Role of the Board & New Appointees

One of the most important concepts with respect to managing a large organization is governance. With respect to the Arizona State Retirement System, the organization is governed by a nine-member Board, appointed by the Governor and confirmed by the state Senate.

The Retirement System Equation

A formula that is very important at the ASRS, but one that most of us would not learn about outside of retirement fund management: 

C + I = B + E

Contributions plus Income equals Benefits plus Expenses. This is the essence of how your retirement system is funded! A description of these four factors:

Contributions” refer to the deductions that you and your employer equally pay. These contributions are collected with every payroll and then invested by the ASRS.

A Service Purchase Overview: Types & Price

The ASRS Service Purchase Program is a benefit that allows active members with previous qualifying service to purchase past service time. There are 5 types of qualifying service, with the most common being the purchase of Forfeited Service or the purchase of Other Public Service. While it can be costly, it can also be beneficial - potentially increasing your lifetime benefit and/or allow you to retire earlier than you planned.

Leaving The ASRS and Cash Refunds: An Example

In this infographic, we look at an example of an ASRS member with an estimated refund of $10,000 to see how taxes apply, what penalties may be assessed, and what the estimated remaining cash amount could be. (Along with options available to avoid those penalties and taxes.)

Nearing the Retirement Finish Line?

A look at "Route 4: Next Exit Retirement" - the final session of our four-part educational series, geared towards members thinking of retiring within 6 months. 

The Status of In-Person Meetings

As the number of vaccinated Americans grows, the Arizona State Retirement System continues to evaluate the possibility of resuming our in-person presentations for both our employer partners and members. The most recent decision: to continue holding our meetings in a virtual environment. 

Familiar with Ending Payroll Verification Requests?

Ending Payroll Verification (EPV) requests are sent by the ASRS to employers when we need to verify the termination of and final payrolls for past or present employees. Accessed via your secure employer myASRS account, there are several situations in which we’ll request an EPV: Retiring employees, prior employees who are now withdrawing their ASRS contributions, or the need to process survivor benefits for a member who has passed away.

When Are You 'Vested' in the ASRS?

Vesting is a term used often when discussing a retirement account. However, the ASRS benefit programs do not have a “vesting” schedule. Members must meet certain requirements before being eligible to receive: retirement benefits, health insurance, premium benefit subsidy, long term disability, or participate in the ASRS service purchase program.

Refund/Forfeiture

When one of your employees asks about “vesting” with the ASRS, often these members may be referring to the percentage of employer funds they might receive if they decide to refund their account.

ASRS Selects New Chief Investment Officer, Michael C Viteri

The Arizona State Retirement System is pleased to announce Michael C. Viteri as our new Chief Investment Officer.

Mr. Viteri most recently served as Senior Investment Officer for the Oregon State Treasury, which manages investment portfolios for various Oregon state agencies with a combined market value of $124 billion, including the $89 billion Oregon Public Employees Retirement Fund.

Basics Handbook for Employers

The ASRS Basics for Employers Handbook is an overview of employer responsibilities regarding the Arizona State Retirement System. This handbook is geared toward employer Human Resources, Payroll, Benefits, and Administration personnel and designed for staff who want an update on ASRS functions and employer responsibilities concerning ASRS processes.  

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