Mandatory Retirement Plans - Classified Staff

All Classified Staff (with the exception of FICA-exempt employees) who are employed at least 20 hours per week (.50 FTE) for at least 20 weeks in a fiscal year are required to participate in in the Arizona State Retirement System (ASRS). * 

ASRS is a defined benefit plan.  Key features of the ASRS defined benefit plan: 

• Benefit to be received is clearly defined.
• Investments of contributions are directed by the plan administrator, not the participant.
• Benefit is based on a formula: credited years of service, times multiplier factor, times average monthly salary. The multiplier increases with years of credited service after 20 credited service years.
• Benefit is not based upon actual contributions to plan, since benefit is not based on accumulated value of account.
• Contribution rate is determined by actuarial projections, and may fluctuate from year to year.
• A matching contribution is made by The University of Arizona.
• Plan allows service purchase for previous qualified employment service time.

TO ENROLL:

• Visit the ASRS website within 30 days of your date of hire/eligibility and complete the online enrollment.  The code is 69V00026.
• After the online enrollment is completed, ASRS will send an email requesting beneficiary information.

Annual Maximum Contribution and Compensation Limits

Helpful ASRS Resources

ASRS Home Page
Know Your Benefits Meetings
Know Your Benefits Webinars
ASRS Member Handbook
ASRS Fact Sheets
Service Purchases
Leaving Employment Prior to Retirement
ASRS Forms
Return to Work
When Can I Retire? 
2011-2012 UA Financial Education Program