Home

davidc's blog

Office of the Auditor General report on ASRS available for review

The state Office of the Auditor General recently conducted a Performance Audit and Sunset Review of the Arizona State Retirement System (ASRS), a review that takes place every 10 years for state agencies. These audits are designed to determine whether an agency is achieving the objectives established by the Legislature and whether it is managing its resources in an effective, economical, and efficient manner. The report states although the ASRS plan is not fully funded, steps have been taken to improve its long-term sustainability.The report also noted that the ASRS serves an important function in Arizona. The full report, a summary report and the ASRS response are all available for public review on the Office of the Auditor General’s website – www.azauditor.gov

Notice Regarding ASRS-sponsored Meetings

The ASRS conducts educational meetings for its members which are facilitated by ASRS staff. Be advised that private companies and/or financial planners may also publicize their own meetings about retirement preparation, the ASRS and/or Social Security. The ASRS is NOT affiliated with any such meetings and is not responsible for these private solicitations. The ASRS does not make its members' personal information available to private organizations and we strongly caution all members and retirees against providing personal information to persons or organizations unknown to you.

Service Purchase change: Limitation lifted for eligible members

Due to a recent court case, the Arizona State Retirement System will now allow members with a membership date prior to July 20, 2011 to purchase any and all eligible Other Public Service, Military Service and Leave of Absence Service.

ASRS honored with Performance Excellence Awards

The Arizona State Retirement System recently received two awards from the Southwest Alliance for Excellence for two online projects designed to assist members. The Southwest Alliance for Excellence, formerly the Arizona Quality Alliance, recognizes organizations for excellence in quality, performance and outcomes through a program modeled after the Malcom Baldridge Award.

Web Maintenance scheduled for secured section of website

Please note that the secured section of the ASRS website will be down for maintenance beginning approximately 5 p.m. on Friday, Dec. 19. Members, retirees and employers will be able to access the main ASRS web pages, but the log-in function will be unavailable for use. The secure section is expected to be functional on Saturday, Dec. 20. We apologize for the inconvenience.

Information for same-sex married members

As of October 17, 2014, Arizona has legally recognized same sex marriage. As a result, the ASRS has updated its policies and procedures to reflect this change, with the same application of retirement policies and procedures for married individuals regardless of sex or gender. A marriage certificate is the required document for determining if a person is a “spouse.”

Contribution rates to decrease slightly July 1

Beginning July 1, the start of a new fiscal year, contribution rates for the ASRS Defined Benefit Plan paid by members and employers will decrease, albeit nominally.

ASRS Recognized for Financial Reporting for 25th Consecutive Year

For the 25th consecutive year, the Arizona State Retirement System has been awarded the Certificate of Achievement for Excellence in Financial Reporting for its Comprehensive Annual Financial Report.

Employers: Important Information on GASB 68

See the latest information on implementation of new GASB 68 reporting requirements. The ASRS has prepared an informational video: ASRS GASB 68 IMPLEMENTATION PRESENTATION (24 minutes) Additional information is on the GASB 68 webpage.

Notice to Members Regarding ASRS Service Purchase

Last month, the Arizona Court of Appeals issued a formal Opinion in the lawsuit Pendergast v. ASRS, a case that involves ASRS service purchase options.

Pages

Subscribe to RSS - davidc's blog