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Employer News

Ending Payroll Verification for Former Employees

When an ASRS member applies for retirement or a refund of contributions, the ASRS may be required to request an Ending Payroll Verification Form (EPV) from our employer partners to where the member has made contributions. 

For retiring members, the ASRS will generate an EPV request to all employer partners that remitted contributions within the last 36 months. For refunding members, the EPV is generated for all employer partners that remitted contributions within the last 6 months. 

The Term ‘Vesting’ with the ASRS

In general, vesting refers to a member’s ability to refund all of their contributions paid into a retirement plan. In ASRS terms, our members are ‘vested’ with their first contribution towards their retirement. This allows our members to take retirement even if they only have one month of service credit with the ASRS and would be eligible for ASRS health insurance. 

When an ASRS member terminates their employment, they would have the option to refund all of their contributions plus any applicable interest.

Quarterly Employer Basics Return in December

Earlier this year, the Employer Relations Team modified how we offer Employer Basics. The ASRS Employer Basics webinar is essentially a walk-through of the ASRS Employer Manual. We cover topics such as membership eligibility, enrollment processing, contribution reporting, health insurance premium benefits, long term disability, and hiring retirees. Although it was originally offered as a half-day in-person workshop, out of necessity during the pandemic Basics became a series of videos.

Enrolling New Employees

One of the first things all ASRS employers should do to assist their employees, is to ensure that they are enrolled with their ASRS employer. Online Enrollment instructions, along with each employer's unique enrollment code, are available under the manage enrollments tab of the Employer Secure Account.