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The new Financial Horizons newsletter is out!

The latest issue of Financial Horizons, our annual member publication, has been mailed to all active, inactive and retired members who have a mailing address on file with the ASRS.

Leased Employees and ASRS Membership Obligations

ASRS member employers that contract with such third-party vendors should not assume such arrangements automatically nullify employees from continued participation in the ASRS.

Contributions Received After Retirement

When ASRS retirees return to work and do not suspend their retirement, their employer must pay contributions at an alternate contribution rate (ACR) on their behalf. ACR is required regardless of the hours worked (whether meeting 20/20 criteria or less than 20/20 criteria), and regardless of the capacity (direct employee, leased employee, independent contractor).

Ending Payroll Verification for New Retirees

Employers are essential in the pension calculation process. The Ending Payroll Verification (EPV) is required from every ASRS employer through which a new retiree has contributed within the past three years – without it, the ASRS cannot begin to process the pension.

GASB 68 Updates

With the implementation of GASB 68, it is more important than ever for employers to correctly report all eligible employee census data. You can correctly report all eligible employee census data by ensuring that each eligible employee completes the online enrollment and registration process and that all social security numbers submitted are correct and valid.

Social Security Number Errors

Employers are strongly encouraged to verify that Social Security numbers which are submitted through payroll or enrollments are correct and valid.

Beneficiary Updates

New and existing employees can designate beneficiaries online. Paper beneficiary forms are no longer accepted for non-retired ASRS members and any received will be sent back to the employee.

Online Registration / Enrollment and Employer Responsibility for Census Data

Autumn bring an increase in new members to the ASRS. As employers, your role is critical in ensuring your new employees are directed to Online Registration and they see the importance of enrollment.

Workshop for New ASRS Employers: ASRS Basics for Employers

Are you new to working with the ASRS? Do you have staff that are? ASRS Basics for Employers is a three-hour workshop geared toward ASRS employer Human Resources, Payroll, Benefits and Administration personnel and covers the basics of working with the ASRS.

ASRS Requires Appointments to Meet with Individual Members

The ASRS recognizes some members require specialized in-person counseling. Appointments are required for all in-person counseling sessions at our Phoenix and Tucson offices. This will allow the ASRS to prepare in advance of the member’s visit and decrease wait times.

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