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.
So, you work for a school as a nine-month teacher or employee. Did you know your ASRS service is calculated differently than your 12-month counterparts in public service? There are a few other differences, too!
Join one of our live, online retirement webinars to help get some answers. In our "Road To Retirement" educational series, “Route 3” and “Route 4” focus on those nearing retirement.
Route 3 is designed for those within 3 years of retiring. It helps you learn about your pension benefit, annuity options, and helps answer the question, "Can I afford to retire?"
The ASRS is guided by a set of official rules as well as state legislation. What’s the difference? Legislation is a law/statute created by the legislative branch of government, whereas a rule is a requirement imposed by an agency. State Statutes provide agencies the authority to create rules, which allow them to regulate or administer various government functions. Rules and legislation both carry the force of law.
The contribution rate for the next fiscal year – which starts July 1, 2023 – has officially been announced. This rate will be effective from July 1, 2023, until June 30, 2024. The new contribution rate was presented to the Board Of Trustees in the November 18 board meeting, along with information regarding the accompanying actuarial study.
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 post-retirement benefit increases.
In the formula above, the letters refer to Contributions, Income, Benefits and Expenses – and this is the essence of how your retirement system is funded! A description of these four factors follows.
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.
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! There are four distinct “Routes” for you to follow on your journey, ensuring you have the information you need when you need it.