Skip to main content

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.

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.

What is the Contribution Prepayment Program?

Effective June 28, 2022, Senate Bill 1082 allowed ASRS employers to prepay pension contributions with the ASRS and designated that they may utilize funding to be applied towards employer contribution payments for a self-designated time at some point in the future. The employer may also opt to leave the prepaid contributions, allowing the amount to continue to accrue earnings based on the amount contributed as a prepayment.  This became the Contribution Prepayment Program or CPP.