Employer News
NEW: Employer Town Halls
Please keep an eye out for targeted emails and announcements on the Employers webpage for our next outreach endeavor, branded as Employer Town Halls. Much like advisor hours in college, the Employer Relations Team will schedule some dedicated time to be available to their assigned employers. Our liaisons will invite their designated employers to join them in a Google Meet to express any concerns, ask questions and make suggestions for how we can improve our service delivery.
Basics for Employers: A Review
For the first time in two years, the Employer Relations Team presented the ASRS Basics for Employers presentations live. The last two years brought about unprecedented challenges to how we conduct business. The ASRS had to quickly adapt from in-person group meetings to virtual and recorded sessions, and until this May, offered our Basics training exclusively through a series of recorded videos.
Resources for Retiring Employees
While the majority of our members have been in contact with the ASRS and planning their retirement for a few months, if not a few years, there are still a good number of members who may suddenly decide to retire out of necessity or impulse without much planning.
460 Report: What is it & How to Use It.
For employer-users with the “HI Premium Benefit Specialist” role, the reconciliation report (also known as HI460, or the 460 Report) is available from the Reports page of the secure myASRS employer portal on a monthly basis. The reports for the most recent three months are available for download. This report lists all retired and LTD members who have elected retired or COBRA coverage through their employer, as well as the Health Insurance Premium Benefit (HIPB) dollar amount to be applied towards each member’s monthly premiums.
Health Insurance Premium Benefit: How is it Applied?
As part of our members’ benefits, the ASRS provides a health insurance premium benefit (HIPB) to help with the cost of retiree health insurance. To be eligible for the HIPB, a retiree or Long Term Disability (LTD) recipient, must have at least five years of service and be enrolled in an ASRS health insurance plan, or a non-subsidized health insurance plan offered by an ASRS employer.
No Appointment Necessary
There is a common misconception that an appointment with an ASRS Retirement Specialist is required for employees ready to retire. While we’re happy to help guide members through the retirement process, an appointment with the ASRS is not a prerequisite for retiring. To start the retirement process, an employee just needs to submit an ASRS retirement application. Our online retirement application can be found within the myASRS portal and submitted online at any time.
Who Can I Talk To?
If you need assistance locating resources to guide you through any ASRS procedures, or additional help understanding a response you have received through the Employer Secure Messaging System, or any of the statutes and rules that govern all things ASRS, the Employer Relations team is here to help. Our Employer Quality Analysts and Senior Retirement Specialists have extensive experience in resolving even the most complex issues for our members and employers.
An Important Admin Responsibility
Occasionally we get a call or a secure message from an employer stating that they cannot access the Employer myASRS Portal. Sometimes it's because the person listed as the Employer Administrator has left and a new administrator was not assigned prior to their departure, or the new acting administrator is using the old administrator’s login.
Don't Skip the 'Employers' Tab!
We understand the convenience of having the Secure Employer Login page bookmarked and jumping straight to the secure side of our website, but if that's your typical process for interacting with AzASRS.gov, you're missing a vast amount of ASRS resources for employers!
High-Earning Employees & the ASRS: 415 Limits and Excess Benefits
Did you know there are contribution and pension benefit limits for employees making over a certain amount? Referred to as “415 Limits” based on the Internal Revenue Code (IRC) Section 415, this can be a set of not-well-known, not-often-used rules for employers and their high-earning employees. But for those they apply to, 415 limits have a big impact. Below is an explanation of what 415 limits are, how the excess benefit is administered.