Office of Human Resources - Benefits Design & Management

ARIZONA STATE RETIREMENT PLAN (ASRS)

  • A defined benefit plan

  • Qualified under Internal Revenue Code 401(a)

  • Participation in the retirement program begins on your first day of eligible employment.

  • Employees currently contribute 9.1% of gross salary (through payroll deduction) for retirement benefit and an additional .5% for long-term disability. The University matches both of these contributions.

  • Retirement benefit is based on years of credited service, average monthly salary and actuarial formula

  • Employees are immediately vested for their own retirement contributions.

  • Employees are partially vested in the University contributions after five years of ASRS participation, with full vesting in University contributions after 10 years of ASRS participation

  • Employees may retire as age 50 with a minimum of 5 years of ASRS participation.*

NOTE:  Although participation in the retirement program begins on your first day of eligible employment at ASU,
you MUST complete the enrollment paperwork within 30 days.  Payroll deductions will be taken retroactive to your eligibility date.

 

COMPLETE YOUR ASRS ENROLLMENT

Within 30 days of the 1st day of your employment, PRINT OUT, COMPLETE and MAIL:
the Election of Retirement Option Form
the ASRS Enrollment and the
ASRS Beneficiary Form to:


ASU HR Benefits Office
PO Box 875612
Tempe , AZ   85287-5612

You can also send the forms via Campus Mail Code 5612.

 

*This is a basic overview of the ASRS plan. For more detailed information, refer to the ASRS Handbook.