ASRS to Modify Employer Payments Process in 2019

The Arizona State Retirement System is modifying its payment process beginning January 2019.

Among the upgrades we will be making is a switch to Bank of America for payment processing. Employers will now have the ability to receive Health Insurance Premium Benefit payment via direct deposit to your account.

Employers are strongly encouraged to begin this process now. Please complete the Employer/Vendor ACH Direct Deposit form and return it via secure message. (In the future this form will be available in your secure employer account on the Forms & Packets page.) This new process will allow you to receive the payment five to 10 days faster each month.

These modifications, the result of a multi-year internal process of improvements on all payments to members and employers, are expected to save the ASRS approximately $1 million per year, enhance our security, and allow the ASRS more flexibility in payment processing.

If you have questions email [email protected]

by David Cannella, Media Relations

This article appeared in "Employer Relations News" (Q4-2018), a digital publication of the ASRS

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