Arizona State Retirement System (ASRS)
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.
Helpful ASRS Resources
ASRS Home Page
2012 Member Handbook