Home

Age 65+ Waivers

In 2012, legislation was passed providing for an option for newly hired employees who are 65 or older and meet specific criteria to opt out of ASRS membership. The legislation set a three year trial period. Last legislative session, new legislation was passed that provides for this option indefinitely.

To be eligible, a person must:

    • • Become employed after the person is at least 65 years old
    • • Not be an active, inactive or retired ASRS member
    • • Not be receiving LTD benefits and
    • • Not have any credited or prior ASRS service.

To opt-out, an eligible person must make the election in writing within 30 days of employment, not 30 days from becoming ASRS eligible (if different than the first day of employment). The election is irrevocable and constitutes a waiver of all benefits under ASRS.

Please ensure that you are offering new employees, who meet the criteria above, the Age 65+ Waiver form within 30 days of employment. You may refer them to the ASRS if they have any questions regarding eligibility or ASRS benefits. The 65-Plus Membership Waiver form is available in the ASRS Employer Secure webpage, under Forms & Packets.

Was this page helpful?: 
Average: 3.7 (3 votes)