Going Green(er)! Benefit Advice Notice Mailings to Discontinue

In an effort to reduce costs and in keeping with our efforts to “go green and save,” the ASRS will discontinue mailing monthly direct deposit benefit advices to retirees as of January 1, 2015.

Since 2010, mailings to retirees who did not opt to go paperless have been limited to receiving mailed statements in the month of December and in months in which a benefit amount changed – generally due to tax or health insurance deduction modifications.

Beginning in January 2015, the ASRS will no longer mail advices and instead encourages retirees who wish to view their monthly advices to log into their myASRS secure account, where they can be viewed at any time.

This change is an extension of the ASRS’ effort to reduce mailings and the related costs while encouraging efficient, cost-effective electronic business. It is a practice adopted by many other financial institutions and government pension plans.

Since the initial elimination of routine mailing of monthly advices, the ASRS has saved more than $400,000 annually in postage costs, a savings that becomes even larger as mailing costs continue to increase.

Monies saved remain in the ASRS trust fund and are invested until they are needed to pay future benefits.

Retirees are encouraged to log in to their myASRS secure account to view monthly direct deposit summaries and review their account, make updates, change tax withholdings and more.

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