One of the most important concepts with respect to managing a large organization is governance. With respect to the Arizona State Retirement System, the organization is governed by a nine-member Board, appointed by the Governor and confirmed by the state Senate.
Latest ASRS Updates
-
The Role of the Board & New Appointees
July 19, 2021
-
Getting the Most From Your MyASRS Secure Account
July 19, 2021Your secure myASRS account is an important tool both before and after retirement. After you retire, it’s important to stay active in your account; here is a brief overview of all the capabilities you have within your myASRS account as a retiree.
-
Managing on Behalf of our Members
July 13, 2021
C + I = B + E
In the formula above, the letters refer to Contributions, Income, Benefits and Expenses – and this is the essence of how your retirement system is funded! A description of these four factors follows.
-
How ASRS Contribution Rates are Set and Determined Video
July 13, 2021
-
New Fiscal Year and Contribution Rates
June 23, 2021On July 1, the ASRS will begin a new fiscal year – FY 2021-22. For members, this is always when your new contribution rates will go into effect. For the fiscal year starting July 1, the new total contribution rate (which includes pension benefits, health insurance benefits, and long term disability benefits) will be 12.41%, adjusted slightly from the current rate of 12.22%.
-
The Retirement System Equation
June 17, 2021A formula that is very important at the ASRS, but one that most of us would not learn about outside of retirement fund management:
C + I = B + E
Contributions plus Income equals Benefits plus Expenses. This is the essence of how your retirement system is funded! A description of these four factors:
“Contributions” refer to the deductions that you and your employer equally pay. These contributions are collected with every payroll and then invested by the ASRS.
-
A Service Purchase Overview: Types & Price
June 14, 2021The ASRS Service Purchase Program is a benefit that allows active members with previous qualifying service to purchase past service time. There are 5 types of qualifying service, with the most common being the purchase of Forfeited Service or the purchase of Other Public Service. While it can be costly, it can also be beneficial - potentially increasing your lifetime benefit and/or allow you to retire earlier than you planned.
-
“Should I Refund My ASRS Account?”
June 7, 2021Obviously this is a complex question. The short answer is that your financial situation is unique to you, and you should proceed however is best for your situation. But how do you know “what’s best for me?” Let’s look at some basic information that may help point you in the right direction.
-
Leaving The ASRS and Cash Refunds: An Example
May 14, 2021In this infographic, we look at an example of an ASRS member with an estimated refund of $10,000 to see how taxes apply, what penalties may be assessed, and what the estimated remaining cash amount could be. (Along with options available to avoid those penalties and taxes.)
-
Nearing the Retirement Finish Line?
May 4, 2021A look at "Route 4: Next Exit Retirement" - the final session of our four-part educational series, geared towards members thinking of retiring within 6 months.
Newsletters
Check out all the ASRS newsletters - mailed and emailed - here.
Was this page helpful?: