Office of Human Resources - Benefits Design & Management
Related Links
- Benefits Home
- ORP Guide
- How To Change
Your ORP Company
(current ORP participants only)
- IRS Contribution Limits
Hired After 7/1/1996
Hired Before 7/1/1996
RETIREMENT PLANS
Faculty, Academic Professionals, Administrators and Service Professionals
As one of a number of benefits, Arizona State University provides a retirement program. Participation in the program is required if you work at least 20 weeks in a fiscal year and 20 or more hours per week, as provided in Arizona Revised Statutes, Section 38-711.22 (b).
You MUST enroll in one of two retirement plans within 30 days of your eligibility date. After 30 days without an election, you will be defaulted to the Arizona State Retirement System Plan, an irrevocable election.
Within 30 days, you can choose either:
- the Arizona State Retirement System Plan (ASRS) or
- the Optional Retirement Plan (ORP).
If you are reclassified and/or assume a new job and become ORP-eligible for the first time after your initial employment date, the 30-day election period begins on the day your reclassification becomes effective.
REMEMBER:
You MUST complete your Retirement Enrollment Within 30 Days.
Your retirement plan election at time of employment is irrevocable; this will be your retirement plan for the duration of your employment at the University.
NOTES
If you enroll in the ASRS plan, payroll deductions will be taken retroactive to your eligibility date.
If you enroll in the ORP plan, payroll deductions will begin during the pay period following completion of your enrollment; no retroactive payroll deductions will be taken.