ASRS - When Can I Retire?

When may I Retire?

When you retire is up to you. The longer you work and contribute to the Arizona State Retirement System (ASRS), the larger your retirement benefit will be. You may take an "early retirement" with a reduced benefit. Or, you can increase your benefit by working past your normal retirement date, also referred as "late retirement." These concepts are explained below:

Normal Retirement

Normal retirement is the earliest you may retire with a full benefit.

If your ASRS membership date is before June 30, 2011, normal retirement occurs under the earliest of the following situations:

• at age 65,
• at age 62 with 10 or more years of credited service,
• at any combination of years of credited service and age, totaling 80 points

 
If your ASRS membership date is on or after July 1, 2011, normal retirement occurs under the earliest of the following situations:

• at age 65,
• at age 62 with 10 or more years of credited service,
• at age 60 with 25 or more years of credited service,
• at age 55 with 30 years of more of credited service

Early Retirement

If you are at least age 50 with five or more years of credited service, you may retire before your normal retirement date. However, a reduction is applied to your benefit depending upon your age and your credited service. Your benefit stays at the reduced amount as long as you are receiving retirement benefits.

Late Retirement

If you continue to work beyond your normal retirement date, you accrue additional retirement benefits equal to two percent of your average monthly salary for each additional year of work.

Retirement Calculator - get an idea of what your monthly benefit will be at retirement or early retirement.