Employer Reminder About 65+ Waivers

In 2012, legislation was passed providing for an option for newly hired employees who are age 65 or older and who meet specific criteria to opt out of ASRS membership. The option was initially available on a trial basis and is now available 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
    • • Submit the required waiver within 30 days

To opt out, an eligible employee must make the election in writing within 30 days after starting employment, regardless of whether the intent of their employment meets ASRS eligibility criteria. The election is irrevocable and constitutes a waiver of all benefits under ASRS for that employment.

Be aware that waivers that are incomplete or received by the ASRS more than 30 days after employment began will be rejected. Therefore, if you have a new employee who meets the criteria above, please offer them the waiver at the beginning of their 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 only available in the ASRS secure employer website, under Forms & Packets.

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