Here's What's New!

Clarification on the CARES Act and the ASRS

Due to the current COVID-19 pandemic, the Arizona State Retirement System (ASRS) has seen a slight increase in members asking, “Can I refund or get a loan from my account?”

A Review of Earning Service Credit

Periodically, the ASRS receives questions from employers on how employees earn service credit. Here's a reminder!

New Instructional Videos for Employers

The ASRS Basics for Employers meeting is now available online as a six-part series. The online format will not only enable employer staff to get the same information provided in our in-person ASRS Basics for Employers sessions but will also provide a convenient format that employer users can take advantage of from their computer or laptop.

New Dental Providers for 2021 Retiree Group Insurance

The Arizona State Retirement System has selected two new dental insurance providers for the Retiree Group Dental Services program, beginning January 1, 2021. Delta Dental of Arizona and Cigna Health were selected after a solicitation for bids (Request for Proposals) was held. The contracts were approved on April 20.

Submitting Documents & Member Service Updates

As a reminder, for everyone's safety, the ASRS offices continue to be closed. All member and retiree services are offered remotely (via online or phone). Members may drop off documents at the office, however, no staff will be available to assist you. Watch this video to learn more about ASRS remote services:

Member Education & Appointments Temporarily Remote Only

During this time of enhanced health and safety concern, ASRS member education meetings are currently being offered online only. Similarly, member appointments are currently being offered by phone or online. Read on for more details:

Market Impacts on ASRS

With recent significant losses to financial markets attributed largely to uncertainty over the spread of the coronavirus, ASRS members may be concerned about the impact to the ASRS benefit plan.

The ASRS manages a diversified investment portfolio which is comprised of equities, real estate, credit, and bonds. Unlike personal retirement accounts, such as a 401(k), ASRS retirement benefits are set by a formula and not by the ups and downs in the investment market.

Here’s a summary of market impacts to ASRS members:

'Return to Work' Employees and the Alternate Contribution Rate

When an ASRS retiree returns to work for an ASRS employer and meets active membership criteria, then active contributions must begin and the member’s pension is suspended. The member will not receive a pension benefit until they either terminate employment or reduce their hours and re-retires. However, there is an exception to this rule. Under very specific conditions, an ASRS retiree can qualify to remain retired while working for an ASRS employer. It is the responsibility of both the retiree and employer to ensure compliance.

For Staff Who May Be Retiring

Are you or members of your staff within a year of retirement? The ASRS is here to assist in the transition! We offer several options to help personalize your or your staff’s retirement inquiries. Did you know the ASRS offers one-on-one appointments in the Phoenix and Tucson offices, as well as online counseling sessions?

What is an HIPB?

The ASRS provides a health insurance premium benefit (HIPB), also referred to as a “subsidy” or “reimbursement,” to eligible retired and LTD participants to help cover a portion of the out-of-pocket cost of member insurance premiums. A percentage of all employer contributions are placed in a 401(a) Health Benefit Supplement account to provide funds for the HIPB.