Retirement can be an exciting yet challenging time for soon-to-be retirees. While employers play an important part after a member retires by ensuring we receive their Ending Payroll Verification form in a timely manner, you can also play an important role before an employee retires.
As an employer, there are a couple of important things you can do when an employee notifies you about their plans to retire. The most important and easiest thing is to just direct them to the ASRS website. ASRS is committed to providing members with education, guidance, and resources to help them understand their retirement options and make the best decisions for their financial futures. All of this information can be found at AzASRS.gov in both the Member Education and Retirement Central sections.
The other important thing is remembering that every member's situation is different. While it's normal for coworkers to share experiences and information they've received from the ASRS, it is best that retiring members contact the ASRS themselves to ensure they get correct information about their own situation. When they contact the ASRS directly, they can get account-specific details and directions specific to their needs. Encourage your employees to log into their secure myASRS account to create benefit estimates for themselves or send us a secure message with any questions they have about retiring. While there, they can also register to attend one of the retirement planning webinars the ASRS offers.
ASRS Member Education sessions Route 3: Destination in Sight and Route 4: Next Exit - Retirement are designed to provide members with resources to make educated and informed decisions regarding their retirement. By registering to attend a webinar or viewing a pre-recorded video of these sessions, members can better understand their retirement benefits and the retirement process. If they are within one year of retiring, while not mandatory, members can call the ASRS Member Advisory Center to schedule an in-person, virtual, or telephone appointment to speak one-on-one with a Retirement Specialist.
For retiring ASRS members, the right information can help ensure a secure and comfortable retirement. From providing virtual and in-person seminars to offering one-on-one guidance, ASRS is dedicated to helping members understand their retirement options and make informed decisions based on their needs.
by Lowesha Mumba Employer Relations
