For many employees, retirement can be overwhelming and exciting all at the same time! Employees and employers alike are curious about what is required during this process. The ASRS has the following essential information to assist along the way.
Resources for Retiring Employees
Your employees may be wondering where to begin or what their next steps should be to start their retirement, and we provide a comprehensive list of tools and resources regarding all things retirement. Multiple resources are available on our Retirement Central webpage, as it is a great place to start! You will find discussion topics such as estimating benefits, a timeline for retirement processing, annuity options, and applying for retirement.
In addition, the Member Education webpage has several virtual meetings and e-learnings, taking members from the beginning of their journey all the way up to retirement. We are confident these tools will provide clarity and direction for those embarking on retirement.
Note: members are not required to meet with the ASRS to file a retirement application. It can be completed anytime, anywhere, at their convenience, within their secure myASRS account. Members are also welcome to call our Member Advisory Center to speak with a retirement specialist if they have any additional questions.
Employer Resources
Whether you’ve been an employer partner for decades or months, we have many resources to help you learn more about the retirement process and how to direct your employees to the right information. Reviewing the Employer Manual, visiting our Employer Reference Materials, and registering for our ASRS Basics for Employers series is a great place to begin! These resources look through the lens of the employers and will help you learn more about your role and responsibilities to the ASRS.
If you still have questions, you are also welcome to send us a secure message, or try out our new chat function to discuss your questions & concerns with the Employer Relations Team. We also have a helpful article, Fantastic Resources and Where to Find Them, which lists even more resources and helpful tools you may benefit from.
Ending Payroll Verification
When an employee applies for retirement, The Ending Payroll Verification (EPV) is a form that will be sent through and completed through the ASRS Secure Employer Website. Through the EPV, you verify a member’s termination date and final payroll information.
You may get an EPV request for an employee who has not been employed in quite a while. In many of these cases, the EPV is an Internal Revenue Service requirement for a Required Minimum Distribution disbursement. If you no longer have employer records for the member named on the EPV, you can mark the EPV as “Not Applicable” and note on the EPV that the employment records are no longer available.
Visit our employer Ending Payroll Verification page to view the online EPV Guide. This resource will provide steps on how to log in, and several scenarios for completing the EPV, and will help clear up some commonly asked questions.
