ASRS Executive Director Paul Matson was recently featured in Benefits Canada, a leading multi-media platform covering the pensions, benefits and investment industry in Canada.
Paul, a native of Canada, held various investment positions in Canada prior to joining the ASRS in 1995.
See: Canada’s lasting influence on Arizona’s public sector pension investor
As many of our members are school staff and work less than 12 months a year, the question of how working extra over the summer affects your future pension is a common one.
First, a quick note about how non-12-month school staff earn service credit. Because of the shortened work year, these ASRS members earn more service per month (.111 credit per month) than a traditional 12-month employee (.083 credit per month). This is to make sure that non-12-month members earn a full year’s worth of service between the start and end of their school year.
The Arizona State Retirement System is providing the following information with regard to the receivership of Silicon Valley Bank and Signature Bank as they relate to the ASRS investment portfolio.
The ASRS had relatively small index-like investments in shares of SVB Financial Group (the parent company of Silicon Valley Bank) and Signature Bank.
It came to our attention that, due to a technical issue, some members received an error message when submitting documents in their secure myASRS accounts for a short time between 11/18 - 11/20. Please know this issue has been resolved. For anyone who experienced issues, we encourage you to log into your account and resubmit your documents.
For retirees enrolling in health insurance, our Open Enrollment Period remains open, with the last day being Wednesday, November 30, 2022.
We apologize for any inconvenience.
The Arizona State Retirement System recently received the Certificate of Achievement for Excellence in Financial Reporting for its 2022 Annual Comprehensive Financial Report.
If you’re early in your career, you may think “retiree health insurance” isn’t a topic you should be terribly concerned about at the moment, but you might be surprised! If you plan on retiring before 65, when most are eligible for Medicare, then health insurance costs could be something you want to start thinking about now.
Your ASRS contribution rate actually consists of two main parts: the “Pension and Health Insurance Benefit” rate, which is a pre-tax deduction from your paycheck, and the “Long Term Disability Income Plan” rate, which is a post-tax deduction. If you look at your paystub, the pre-tax deduction is listed as “ASRSRET” while the post-tax deduction is labeled “ASRS LTD.”
We have revamped our New and Prospective Members page! Located in the Members tab, we designed this page to help introduce you to who we are, guide you through the myASRS account registration process, learn more about your member benefits, understand ASRS contributions, and get answers to commonly asked questions. On the New and Prospective Members page, you'll learn about a few primary benefits available to all ASRS members.
Every day, we are all exposed to some type of risk, whether it’s from walking down the street, driving to the store, running a business, or investing in the stock market. Risk is multi-dimensional, in that it means different things to different people or organizations, who have differing tolerance for a particular risk.