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Why Do I Need Savings If I Have a Pension?

ASRS retirees are fortunate to have both a pension and social security benefits... do we really need a savings account as well? Read on for what experts say about the role of personal savings in your financial future.

March Board, Investment Committee meetings canceled

Please note that the Board of Trustee meeting and the Investment Committee meeting originally scheduled for March have been canceled. The next scheduled Board meeting will be Friday, April 28 at 8:30 a.m. in the Board Room of the ASRS building, 3300 N. Central Ave., Phoenix. The next Investment Committee will be Monday, April 24 at 2:30 p.m. in the 14th floor conference room at the ASRS building.

Input Needed for "Regulation Rollback"

A new rulemaking initiative called "Regulation Rollback" is being implemented by the Governor's Office and your input is needed. Read on for more information about how you can weigh in.

New fiscal year, new contribution rates

Contribution rates for members and employers have been set for next fiscal year, which begins July 1, 2017.

The total contribution rate for the defined benefit plan, health insurance supplement and long term disability plan will be 11.50 percent for both employer and employee, up just slightly from the total rate of 11.48 percent for the current fiscal year, which ends June 30, 2017.

The new rate will be in effect through June 30, 2018. See Contribution Rates for more information.

Final Legislative Updates from the 52nd Legislature, Second Regular Session

The 52nd Legislature – Second Regular Session adjourned on May 7. The effective date for legislation signed into law is August 6, 2016, unless otherwise noted. The following bills related to the Arizona State Retirement System have been passed by the legislature and signed into law by the Governor.

Karl Polen named Chief Investment Officer

Karl Polen, head of private markets in the ASRS Investment Division, has been appointed Chief Investment Officer of the ASRS by Director Paul Matson, effective March 1.

Mr. Polen, who has been with the ASRS since September 2010, replaces Gary Dokes, who departed February 29 to accept a position as the first Chief Investment Officer for the Arizona Community Foundation, a state-wide charitable organization.

Chief Investment Officer to take new position at local charity

Gary Dokes, Chief Investment Officer (CIO) at the Arizona State Retirement System (ASRS), has accepted a newly created position as CIO at the Arizona Community Foundation, a state-wide charitable organization. As such, Mr. Dokes’ last day with the ASRS will be Feb. 29.

ASRS Legislative News

The 52nd Legislature – Second Regular Session opened on Jan. 11 and the ASRS has four bills introduced that have minor impacts to ASRS members but will clarify a few issues.

House Bill 2104 – Retention of Credited Service This bill states that an employee who is employed with an ASRS employer in a position that was exempt from ASRS membership because the position was not included Social Security coverage, but on whose behalf the employer has remitted ASRS contributions, will retain credited service for the period of employment for the contributions made by the employer.

New Location for ASRS Tucson Office Now Open

A new Location for the ASRS Tucson office opened for business on Tuesday, February 16th at 4400 E Broadway Blvd., Suite 200.

Annual Notice of Right to Elect or Revoke Federal Tax Withholding

To all ASRS Retirees: Periodic pension payments will be subject to federal income tax withholding if the taxable portion of the total annual payments equals or exceeds $ 20,640 ($1,720 per month) unless you elect not to have withholding apply.

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