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Curious about the Status of Current Legislation & Rulemaking?

Legislation*

The 2018 legislative session adjourned on May 4, 2018.  During this session, the legislature passed two ASRS-initiated bills that impact the agency.  

HB2034 allows the Governor the flexibility to designate any state agency as the State Social Security Administrator, which is charged with reviewing and maintaining § 218 agreements regarding Social Security withholding for all public employers in Arizona.   

Coming Soon: New Employer Manual!

The Employer Manual is getting a makeover!  The ASRS relies on its participating employer partners to provide information essential for the efficient operation of the retirement plan.  The Employer Manual is designed to support you with your day-to-day responsibilities related to ASRS membership and provide valuable background material to assist with the many processes involved, including:

New Website Functionality for Employers

In the last Employer Update we notified employers that new online functionality is coming to the secure website in late August 2018.  Here are some details about the new functionality and how it will affect employer responsibilities.

Three new application roles will be added to the secure employer website effective August 29, 2018.

PDA and Term Pay Specialist 

Further Guidance on Compensation

Recently, the ASRS emailed employers letting them know that the new administrative rule on compensation will expire mid-June (click here to read the initial notice). Employers were advised to operate as if the rule never existed and follow the previously established written guidance from the ASRS, by continuing to remit contributions on non-accountable allowances and mandatory payouts of accrued leave that are not due to termination.

5-15-2018 Notice About Compensation

In 2017, ASRS notified employers by newsletter, website, and employer meetings that a new administrative rule (A.A.C. R2-8-902) would become effective January 1, 2018, to codify what is considered compensation for ASRS purposes in support of statute A.R.S. § 38-711 (7). ASRS then received and listened to feedback and suggestions from its employer community.

Planning Ahead

It’s Retirement Season: Make Sure You’re Ready

A comment we’ve frequently heard from our members when they are ready to begin the retirement process is that they wish they’d known more and started preparing sooner. Don’t let that be you! Whether it’s three years down the road, or six months, there are steps to take right now to make sure you’re ready for your retirement.

Three Years Before Retirement

Employer Matching, Lifetime Benefit... Do You Know Your Pension?

Think a 401(k) Might Be Better? Guess Again!

Every two weeks you see that 11.5% coming out of your paycheck, earmarked for a pension or long term disability that you don’t anticipate needing for a long time to come. Sometimes you may wonder if you would be better off with a different type of retirement plan, like a 401(k). Well, here are some facts that might make you feel better about your ASRS pension:

Retiring Soon? Need Some Direction?

The process of retiring can be intimidating. We understand! Read on for helpful tips to get you pointed in the right direction...

ASRS Scores High in Service, Efficiency

Unless you happen to be very familiar with pension systems, you probably haven’t heard of the company CEM Benchmarking before. But, for the ASRS, they’re a valuable resource that provides helpful data to evaluate both where we’re at and how best to move forward.

An Investment Update by the Director

At the end of each fiscal year (June 30), the ASRS calculates a year-end rate of return on the total fund. The return for June 30, 2017 was 13.9 percent, positively impacting the financial health of the pension fund and helping to reduce upward pressure on future contribution rates.

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