As you contribute to your ASRS retirement account, you may find yourself wondering, “When can I Retire?” There are actually a number of different combinations of criteria that can be used to determine when you’re eligible for “normal” ASRS retirement. Due to changes in law over time, a primary factor is your ASRS membership date.

If you began contributing before June 30, 2011, you are able to utilize the 80 points system.

• • Your Age + Years of service = 80
  • At age 62 with 10 years of service
  • At age 65 with any number of years of service

If you began contributing to the ASRS on July 1, 2011, or later, then your eligibility is slightly different. These members can use one of four different combinations of criteria for normal retirement:

• • At age 55 with at least 30 years of service
  • At age 60 with 25 years of service
  • At age 62 with 10 years of service
  • At age 65 with any number of years of service

Additionally, all members with at least 5 years of service are eligible for “early” retirement at age 50. Because retirement benefits are based on “normal” retirement rules, a member who takes an early retirement will receive a permanently reduced benefit for their lifetime. For more details on retirement eligibility, you can review our Retirement Eligibility page. 

A recent third-party study shows that the Arizona State Retirement System (ASRS) provides top-level service to our members at very low costs when compared to pension plans both from the United States and across the globe. 

The ASRS accomplished this high level of customer service at a cost that is 41 percent less than our peer-average cost. In fact, the ASRS has actually driven its administration cost-per-member down by two percent per year from 2016 to 2023.

The study was conducted by a company called CEM Benchmarking, which analyzes pension data from public pension plans across the US and around the globe. The ASRS is then compared with like-sized plans (peers) as well as all plans (the universe).

For the 2023 analysis, the ASRS scored 91 out of a possible 100 in service, compared to the peer average of 79 and the universe average of 77. The ASRS ranked at the top in service level in both the peer group and the global universe.

Service measurements take into consideration such things as turnaround times for member requests, availability and choices of services, website functions, promptness of depositing monthly retirement checks, and call center efficiency.

For the cost section, the ASRS had a cost of $68, compared to the average costs of our peers of $116, and the universe at $136.

ASRS Executive Director Paul Matson stated that “Top-level service with an extremely low cost structure are strategic initiatives for us. We are so very proud of achieving these benchmarks.”

To learn more about the ASRS and these rankings, visit www.AzASRS.gov and our How The ASRS Ranks webpage.

The ASRS is a state agency that manages a pension plan, disability plan, retiree health insurance programs, and supplemental savings plans for employees of school districts, charter schools, municipalities, special districts, counties, and the state.

The ASRS employs approximately 220 individuals and manages approximately $55 billion in investments.

Even though you’re already a member and have a myASRS account, if you’ve recently changed ASRS employers, it’s important to go through the online enrollment process again with your new employer’s enrollment code.

Enrollment Code

Every ASRS employer has a unique enrollment code they provide to all their new hires. When you receive the enrollment code from your employer, simply go through the “first-time registration” process on the myASRS login page. This may seem counterintuitive since you already have a myASRS account, but this will give you an opportunity to enter your new employer’s enrollment code.

Once your employer approves the enrollment and your first contribution is received, your secure account will update and reflect your new employer and contributions. By re-enrolling your account, you will ensure your contributions are properly associated with you. Remember: you only have one ASRS account, no matter how many ASRS employers you work for: this process doesn’t create a new account, it just updates your existing account.

You can check on the status of your ASRS membership and account balance at any time by logging into your secure myASRS account. Haven’t set up your account access yet, or want to learn more about the benefits of online enrollment? Read our article “Are You Fully Enrolled?"

Switching to a non-ASRS Employer

If you plan on moving to an employer who is not part of the ASRS, you have additional options. You can leave your account open with us and return to it later, whether you return to work with an ASRS employer or retire. If you do return to work with an ASRS employer and have not taken a withdrawal of your contributions, once you re-enroll, you will continue to contribute to your already existing ASRS account, no matter how long it has been since you last contributed.

Please note - if you leave an ASRS employer and choose to forfeit your ASRS Membership by withdrawing your contributions, your ASRS membership will start over should you ever choose to return to an ASRS employer. This means you will begin with no service credit or funds on your account. Once you begin actively contributing again, you have the option to purchase back your years of forfeited service. To learn more, check out our article: A Service Purchase Overview: Types & Price

The Arizona State Retirement System (ASRS) has been selected as one of the Top Places to Work in Arizona!

The recognition comes from Best Companies Group, a firm that examines companies’ practices, programs and benefits and surveys employees for their perspectives. Upon meeting certain criteria, a company can then be recognized as a “Top Place to Work.”

Employee satisfaction surveys conducted annually by the state Department of Administration had already shown very high levels of satisfaction among ASRS employees, but the ASRS wanted additional insights into our overall work environment to ensure that we can attract and obtain the high-level talent required to provide our members with top-tier service in a cost-effective manner.

Consideration in earning the Top Place to Work recognition was based upon the benefits afforded to our employees, the overall work environment that we are able to provide to our employees, and the responses of our employees to a detailed survey, among other criteria.

“We take great pride in our work and in serving Arizona’s educators and government employees,” ASRS Executive Director Paul Matson. “It is very affirming to receive this recognition.

“We are proud to provide a highly engaging work environment where our employees can flourish and provide outstanding customer service to our members. It is one of our primary strategic goals.”

View the awards presentation video here: https://www.youtube.com/watch?v=TMkoQUUIaqU

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Best Companies Group has been dedicated to elevating and promoting the best companies to work for in Arizona over the past 20 years. It uses a research-driven approach in recognizing a variety of companies, from large employers to small, from private to public, as a best place to work for.

To learn more, visit: www.bestcompaniesaz.com 

The ASRS is a state agency that oversees and administers a pension plan, disability plan, retiree health insurance programs, and supplemental savings plans for its 650,000-plus members. Participating employers include school districts and charter schools, municipalities, special districts, and county and state employees. The ASRS employs approximately 220 individuals.

To learn more about the ASRS and career opportunities, visit: www.AzASRS.gov

Originally Published 7/9/24

Updated: 8/21/24

If you are having issues accessing your account, your first step is to click the “Having Trouble Logging In” link located on the myASRS secure account login page. From there, you will go through the process of resetting your password.

To update your password successfully:

• • Your contact information must be up to date with the ASRS (email & mobile phone number)
  • You must pass the Knowledge-Based Authentication (KBA) quiz

During the password reset process, you will receive a text and email with a code to enter, allowing you to move on to the KBA quiz and finish updating your password. If your contact information on file with us isn’t correct, you won’t receive the required authorization code, you won’t be able to finish updating your password, and you will need to call us for further assistance. 

Once you’ve successfully entered the authorization code, a KBA quiz will prompt you with a series of questions specific to you. If you have challenges with the KBA quiz, there could be several reasons why: For instance, the KBA quiz will only generate a certain number of passable quizzes within a given timeframe. If you accidentally answer a question wrong during your quiz, the system will register the attempt as a fail. After several failed attempts, the system will no longer provide you with a passable quiz to change your password, and you must wait at least five days before trying again. 

Should you need help accessing your myASRS secure account, please call 602-240-2000 and speak with an ASRS Retirement Specialist. They can assist in confirming your identity and update your account as needed so you may regain access. 

An important reminder: ASRS Retirement Specialists do not have access to the questions or answers in the KBA quiz or your password. We understand that there are multiple steps and requirements for regaining access to your myASRS secure account; however, this process helps us ensure your ASRS account remains secure. Contact us immediately if you ever feel your myASRS account has been compromised.

By Allison Holland, ASRS Member Advocate

Published 6/13/2024

On July 1, 2024, the ASRS will begin a new fiscal year – FY 2024-25. For members, this is when new contribution rates go into effect. Starting July 1, 2024, the new total contribution rate will be 12.27%, a slight decrease from the FY 2023-24 rate of 12.29%.

Understanding Your Contribution Rate

The total contribution rate paid by both ASRS members and employers is comprised of two parts: contributions collected pre-tax to fund both the pension and health insurance benefits, and a fractional percentage of contributions collected post-tax to fund the long term disability benefit. 

For FY 2024-25, the pre-tax Pension and Health Insurance contribution rate is 12.12%, while the post-tax Long Term Disability Income Plan contribution rate is 0.15%. These two pieces combine to create your new total contribution rate of 12.27%.

How Rates Are Determined, Where They’re Going

Contribution rates are determined each year through an actuarial valuation conducted by an external actuary. The actuary performs a deeper analysis called an experience study every four or five years. In these experience studies, actuarial assumptions of the ASRS are evaluated, along with how those assumptions may or may not need to adjust going forward, and what effect those adjustments in assumptions may have on contribution rates over the next 30 years.

A question most members have is what the contribution rate will be going forward. To this point, one of our primary tenets is to provide stability for members and avoid large year-to-year swings in the contribution rate. Based on current projections, we’re optimistic that contribution rates will remain stable for the foreseeable future, likely staying within ± 1% of the current total rate for the next 10+ years.

By Allison Holland, ASRS Member Advocate

Published 6/13/2024

Keeping your information secure and out of the reach of cybercriminals has never been more important. Phishing attacks – a type of fraud meant to trick you into providing sensitive information – can happen through emails, text messages, or even phone calls. Typically, attackers disguise themselves as a trusted source in an attempt to steal confidential information.

Let’s discuss one cyber-attack method known as ‘Spear Phishing,’ which sadly isn’t a deep-sea spearfishing excursion. Instead, this term describes the most common phishing method, where cyber criminals target a specific individual or organization, typically through email. Simply put, cyber-criminals will send an email where it looks like it’s from a trusted source that you or your organization use regularly. However, this email will often want you to take action immediately, typically indicating that your account was compromised and requesting that you secure your account by using a provided link to login. This tactic aims to access sensitive information, such as login credentials, and cyber-criminals hope you won’t notice that it’s fake. The progression of AI in recent years has also made it much easier for cyber-criminals to create more individually tailored texts and emails in an effort to trick you.

If you ever suspect an email or text message may be fraudulent, ask yourself: Do I have an account with this agency, or do I know the person who just contacted me? If you answer no, this could be a phishing attempt, and it’s important to review the message carefully without clicking on any provided link. If you still aren’t sure, consider contacting the sender directly through a separate message to ensure the communication is valid.

Here at the ASRS, we are committed to keeping your account secure! One way you can help is to regularly update your password and username for added security. Another essential practice is keeping your myASRS account information up-to-date – we use this information to verify your identity anytime you call us with questions about your account.

Thinking before you click or provide information to someone you may not trust is a good habit of protecting yourself from accidentally falling victim to a cyber-criminal. 

Other helpful cyber security tips:

• • Never duplicate a password! Create a new password for each newly established account.
  • Make your password long. Consider a phrase or multiple words; these are called passphrases.
  • Do not include personal information in your passwords, such as pet names, year of birth, or the names or birthdates of loved ones.
  • Never share your password.
  • Include random symbols, numbers, and uppercase and lowercase letters.
  • Avoid public WIFI whenever possible.
  • Use a password manager. This allows your computer or cell phone to save your password for future use.

Updated  2/10/25

One of the many questions we receive at the ASRS is: “How does my account balance determine my monthly benefit?”

The short answer is that your ASRS account balance is not related to the amount of your future monthly retirement benefit. Your ASRS retirement benefit is calculated using your years of service and your average monthly salary, with a “graded multiplier” added that increases with your years of service. (You can read a more in-depth explanation of that formula here.)

What our pension benefit formula does not factor in is the account balance you have accrued throughout your career.

When does your ASRS account balance become important? Primarily:

• • If you decide to forfeit your ASRS service and refund your ASRS account. (Learn about refunds.)
  • Your survivor benefit, should you pass away before retiring. (Learn about survivor benefits.)
  • Depending on what retirement annuity you decide to take, it may affect whether or not your beneficiaries receive any funds if you pass away in retirement. (Learn about annuity options.)

Remember, ASRS pension benefits are for your lifetime. The average ASRS retiree receives more in pension benefits in 6-8 years than they paid in contributions throughout their career. Regardless, your future monthly ASRS retirement benefit will never decrease, no matter how long you live.

Are you curious to see how much your future ASRS retirement could be? Log into your secure myASRS account and click “Retirement” under the “Your Benefit Estimates” menu. Here, you can look at retirement benefit projections, see the impact of retiring early or continuing to work, or see how your monthly benefit changes based on which annuity type you select.

Published 5/14/2024, Updated Feb, 2026

While member contributions go a long way to funding all the benefits the ASRS provides, none of what we provide to members would be possible without contributions from our employer partners: ASRS employers contribute the same percentage as ASRS members for each member they employ!

Contributions from both you and your employer are then pooled together, invested, grown, and used to fund benefits such as a lifetime pension when you retire, Long Term Disability, and more.

Employer contributions on your behalf are also a factor when considering Survivor Benefits, or the money that may be available to your beneficiaries should you pass away before being able to retire. In this situation, your beneficiary would receive an amount equal to your career contributions, plus all contributions made on your behalf by your employer, in addition to any applicable interest. 

One additional area where employer contributions may come into play is if a member no longer works for an ASRS employer and decides to terminate membership by refunding their account. If your membership date is before July 1, 2011, you may be entitled to a portion of your employer contributions when refunding – it depends on how many years of service you have. Due to a change in statute, those who began contributing members on or after July 1, 2011, are only eligible to receive a portion of employer contributions if there is a reduction in force or layoff by the employer. Otherwise, their refund amount will be based only on their own contributions.

If you’d like to learn more about how the ASRS invests contributions of both you and your employer, visit the Investments section of our website. Contributions from our members and employer partners help keep the ASRS a well-funded and stable retirement plan, which secures your retirement for a lifetime!