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Benefit Payments

Understanding Your Payment History

View your ASRS payment history in your myASRS secure account. Payments are grouped by payment type and then by calendar year.

Please note: The Payment History function in your myASRS account is grouped by calendar year. For example, to see your 2015 payments and totals, click on '2015' in the drop down box.

myASRS Login

Manage your payments

The ASRS allows members to view details of benefit calculations, payment history and directly update your tax and direct deposit elections in your personal, secure myASRS account!

myASRS Login

Online Features include:

  • View benefit details on your retirement elections, including an estimate of remaining survivor benefits available to your beneficiary(ies) depending upon your annuity selection as of your last payment
  • View and update beneficiary(ies) online (for those retirees with straight life annuity or term certain options)
  • View health insurance coverage details (for those with ASRS or ADOA coverage)
  • Enroll in an ASRS medical or dental group retiree health plan
  • View and download Benefit Verification Letters
  • View and update your personal contact information
  • View your payment history
  • View and download your monthly payment advices
  • View and download your most recent 1099R
  • Update your tax elections
  • Update your direct deposit account
  • Check eligibility and/or apply to Return To Work after retirement, using our new online smart tool

Watch this video for a demonstration of what you can see and do!

Log in to check out your own account!

myASRS Login

Direct Deposit

Retirees can make changes to or set up direct deposit at any time. Log in to your secure account (myASRS Login) and following these simple steps:

  1. Log on to your ASRS secure homepage.
  2. Click Direct Deposit located on the menu bar on the left.
  3. Click Update Direct Deposit Information button and follow the instructions to make changes.

myASRS Login

Changes to direct deposit must be submitted by the 10th of the month to be effective by the 1st of the following month. Otherwise, the new information will not be effective until the second month following the changes. If the direct deposit is sent to a closed or invalid account, it will be rejected by the bank and a paper check will be mailed within 4 business days of receipt of rejected payment.

ASRS Benefit Card

The Arizona State Retirement System no longer issues monthly benefit payments with paper checks. Instead, for those who do not use direct deposit, benefits are loaded each month to your benefit card.

Photo of ASRS reloadable debit card

The benefit card is a Visa®-branded card account from Bank of America, which allows direct deposit of retirement payments to those who do not have a traditional bank account or who do not want their payment deposited electronically into their existing bank account. It is important to note the benefit card serves as a debit card, not a credit card.

The benefit card account is Federal Deposit Insurance Corporation (FDIC)-insured and follows all Regulation E requirements for consumer protection. The account owner has access to their funds 24 hours a day, 7 days a week via purchases everywhere Visa debit cards are accepted, ATMs and pinned point-of-sale (POS) terminals, as well as over-the-counter cash access through tellers at any Bank of America, or other Visa bank or credit union location.

For your convenience, automated account information and dedicated customer service representatives are available 24 hours a day, 7 days a week by calling (866)-213-4074. You may also view your account information free of charge by going to Bank of America Online customer service at www.bankofamerica.com/cashpay.

The ASRS does not have access to your benefit card account information.

Direct Deposit Dates

The dates below are when the ASRS transfers funds to financial institutions for regular monthly benefit payments.

Deposit into individual accounts may vary by financial institution. Please note that payments must be made in the intended calendar year for tax reporting purposes. This is especially important for January's pension payment, which cannot be made available prior to January 1, which is a bank holiday.

2017

 

January

Sunday, Jan. 1*

*The ASRS will make your funds payable on January 1, 2017. However, because banks are closed on Sundays and for New Year holiday, your bank will likely make your funds available to you on Tuesday, January 3

February

Wednesday, Feb. 1

March

Wednesday, Mar. 1

April

Friday, Mar. 31

May

Monday, May 1

June

Thursday, June 1

July

Friday, June 30

August

Tuesday, Aug. 1

September

Friday, Sept. 1

October

Friday, Sept. 29

November

Wednesday, Nov. 1

December

Friday, Dec. 1

2018

 

January

Monday, Jan. 1

 

Common Payment Stub Abbreviations

Abbreviation

Explanation

Pay Sources (+)

 

Monthly Annuity

The base amount of your benefit.

Monthly Annuity (Non-Taxable Portion)

The portion of your monthly benefit that is exempt from federal taxing; also called “safe harbor” funds. Adding this number to your 'Monthly Annuity' is the total annuity amount.

Permanent Benefit Increase

Permanent Benefit Increase/Enhanced Permanent Benefit Increase. The PBI, if provided, is based on excess earnings in the ASRS fund. The EPBI, if provided, is based on years of retirement.

HI Supplement

Health insurance premium benefit. The benefit you receive towards the full cost of your eligible health insurance.

HI Premium Adjustment Non-Taxable

Health insurance reimbursement. This occurs if you previously overpaid health insurance premiums.

Level Income

Increase provided to retirees who retired prior to age 62 and elected the Level Income Alternative option in exchange for a reduced ASRS benefit until becoming eligible for Social Security at age 62.

Deductions (-)

 

HI Premium

Health insurance premiums. The full amount of your medical/dental insurance premiums.

Level Income Deduction

Social Security estimate. Amount withheld starting at age 62 if you initially elected the Level Income option at retirement.

Overpayment Non-Taxable

Repayment of an overpayment using pre-tax dollars.

Overpayment

Repayment of an overpayment using after-tax dollars.

Child Support

Child support payment.

Levy

Garnishment

Note: Only the most common abbreviations are listed here. Not all abbreviations may apply to your individual situation.

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