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Human Resources Classified Staff
Policy and Procedures

Human Resources
Classified Staff Policy and Procedures

POLICY

All Classified Staff employees who are scheduled to work at least 20 hours per week for a minimum of three (3) continuous months are required by state law to enroll in the Arizona State Retirement Plan. Each Classified Staff employee is required to contribute a percentage of gross earnings by payroll deduction, an amount which is matched by an equal contribution by the University.

Eligible employees of the campus Police Department are required by state law to enroll in the Arizona Public Safety Personnel Retirement System. Each eligible Classified Staff employee is required to contribute a percentage of gross earnings by payroll deduction.

When a Classified Staff employee has contributed to either retirement plan for five (5) or more years, the employee has a vested right to a retirement income when contributions are left on deposit until retirement. Withdrawal of the Classified Staff employee's contribution at any time forfeits the University's contribution. Only the employee's contribution, plus interest, may be withdrawn. A portion of the employer contributions plus interest may be refunded based on the years of service at termination.

NORMAL RETIREMENT

If retirement is to be effective at age 65 or older, the Classified Staff employee shall receive the full benefit which has been earned. A full (or normal) benefit is also payable if the employee's:

1. Age and years of total credited service equals the sum of 80 points.
2. Age is 62 and the employee has 10 or more years of eligible service.

The retirement benefit shall be computed as follows:

Number of years of service _______________ x 2% = Total %_____________ . Total %_____________ x average salary = monthly life annuity $______________ . [Average salary as used here is the average monthly salary received during the 36 highest continuous months of earnings during the last 120 months of employment.]

Number of years of service _______________ x applicable % (see table below) = total multiplier factor

• 0.00 to 19.99 years of service 2.10%
• 20.0 to 24.99 years of service 2.15%
• 25.0 to 29.99 years of service 2.20%
• 30.0 or more years of service 2.30%

EARLY RETIREMENT

Retirement may be as early as age 50 if the employee has retirement credit for at least 5 years of eligible Service. Early retirement benefits, however, shall be reduced to recognize the longer period of time over which annuity payments shall be paid.

DEATH BENEFITS

Benefits paid in the event of death provide the beneficiary with twice the amount of the employee's contributions to the Arizona State Retirement System plus all accrued interest.

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