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One of the most common questions we receive from retirees relates to increases in their pension. Many retirees are surprised to learn that the ASRS was not designed to provide yearly postretirement benefit increases.

One of the most common questions we get from retirees relates to whether they will receive regular increases to their pension. Many are surprised to learn that the ASRS was not designed to provide for yearly post-retirement benefit increases. 

A look at the second eLearning in our educational series for current, active ASRS members: what it covers, who it's for, and when you should take it.

As an ASRS member, there sure is a lot for you to know about your benefits and account. The ASRS Member Education team has created a “Road to Retirement” series to help you through each milestone of planning your future as you navigate your career. The series provides you all you need to know in a fun, straightforward manner!

One common budgeting oversight we see from members planning their retirement is comparing their estimated future pension amount against their current monthly bills to see if they can afford to retire. The oversight? Focusing on what their bills currently are, not what their bills will be. This is especially true when it comes to health insurance costs – and even more so if you won't be 65 and Medicare-eligible when you retire.

I find that this time of year provides an opportunity for reflection, and to ponder what may lay ahead. It seems particularly fitting this year as it was so filled with unique and often very difficult challenges for all – personally and professionally.

And so I wanted to take a moment to offer my sincerest wishes to each of you for a safe, joyful and healthy holiday season and New Year.

It is with extreme pride that I look back on the unique challenges our staff faced and overcame in having to quickly adapt to the pandemic while ensuring all our core services were delivered to members uninterrupted. I have reported in previous communications that from the onset, the ASRS consistently delivered in all key areas: benefit payments were made on time every time; applications and other administrative services were processed uninterrupted; service levels for answering calls and emails were at or above pre-pandemic levels, virtual meetings with our members were enabled, new educational opportunities for our members were created and presented in safe online and virtual platforms, and our investment program continued uninterrupted while offering ample liquidity.

In addition, our valued members – retired, active, and inactive – worked with us for the good of our community and State – some helping us to review all of our health insurance and dental programs – and others to offer perspective on how to best disseminate important information.

I’m sure we can all look back on 2020 with new perspective as we anticipate the coming new year.

Our staff and I look forward to a time when we can invite you back into our offices for meetings, to answer your questions in person, to come and present at meetings with our employer partners and retirement associations, and to interact as we all could before our world changed.

In the meantime, please be assured that we are here, working to meet our obligations to all our members and employer partners. Your benefits continue to be well managed, safely and securely.

With best wishes from all of us at the Arizona State Retirement System for a safe and happy holiday season to you - our members and your families,

Paul Matson

ASRS Executive Director

Keywords: Director's Message, Paul Matson, Holiday, New Year, ASRS, Members, Staff

How familiar are you with your myASRS account? Your myASRS account is the fastest, easiest, most secure way to update your personal information, connect with ASRS staff with questions, plus a host of other functions specific to you and your account. Within your myASRS, you can:

Retirement may seem a long way away but, from our experience, it tends to sneak up on people. And, when you’re making decisions at the end of your career that will impact the monthly benefit you’ll be receiving for the rest of your life, you want to make sure those decisions are well-informed.