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Employer-Only Payments to Members' Deferred Compensation Plans

This spring, the ASRS began notifying employers about a ruling by the Arizona Supreme Court that changes the way the ASRS has interpreted the definition of ASRS compensation.  The ruling affects employer-paid contributions into deferred compensation plans for employees. 

Along with a news article on the ASRS Home page, the ASRS has posted a list of Frequently Asked Questions (FAQ) to advise employers of the answers to various questions that some employers have brought forward.  The FAQ has been updated since it was originally posted, and recent additions include how to categorize these contributions when reporting them to the ASRS (use Pay Type 07), and when completing an Ending Payroll Verification for a new retiree (use Compensation Type: Stability Pay, and include a comment).

Please review the information if you have not done so.  You can find the FAQs through a link on the Contribution Reporting page or on the ASRS News page.

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