Arizona State Retirement System (ASRS) FAQs

ASRS is a 401(a) defined benefit (DB) plan which guarantees a certain dollar amount monthly, called a pension, for the rest of your life.

View your benefits as an ASRS member.

With your MyASRS account you will be able to update your contact information, estimate your retirement benefits, view your account details contact ASRS directly.

• Visit myASRS online registration
• Provide the information requested
• Enrollment Code: 4UQ00059
• Select ‘Northern Arizona University’ from the drop-down list
• Follow the instructions provided

For registration assistance, call ASRS (800) 621-3778.

• Visit myASRS online registration but select “Existing Member”
• Provide the information requested
• Enrollment Code: 4UQ00059
• Follow the instructions provided

Shortly after ASRS receives your first contribution you will be able to sign on to your MyASRS account and set up your beneficiary. Remember if you are a new ASRS member you have a 183-day waiting period before your contributions will begin. 

ASRS contributions will begin effective:

• New Members: the first day of the pay period following a 183-day waiting period.
• Current Members: at your date of hire if you have an active retirement account.
• Forfeited Members: at your date of hire if you forfeited your account less than two years ago.

No. The contribution rate is set by and subject to change by the ASRS board of trustees and is reviewed each fiscal year.

• View how ASRS contribution rates are set and determined.
• View ASRS contribution rate.

In 2012, legislation was passed providing for an option for newly hired employees who are 65 or older and meet specific criteria to opt out of ASRS membership. To be eligible, a person must:

• Become employed after the person is at least 65 years old,
• Not be an active, inactive, or retired ASRS member,
• Not be receiving long term disability (LTD) benefits and,
• Not have any credited or prior ASRS service.

To opt-out, an eligible person must make the election in writing within 30-days of employment, not 30-days from becoming ASRS eligible (if different than the first day of employment). The election is irrevocable and constitutes a waiver of all benefits under ASRS.

Complete the 65+membership waiver form and return to nauhrbenefits@nau.edu in the first 30-days of employment.

Vesting refers to the requirement of service before “owning” all funds in your account. In the case of pre-retirement separation from NAU, you may withdraw or transfer vested contributions depending on when you became an ASRS member. View a video on vesting and ASRS.

You are always 100% vested in your contributions.

Vesting of your NAU contributions is based on when you were hired:

• If hired prior to 07/01/2011, you are partially vested after five years of service and fully vested after 10 years of service.
• If hired on, or after 07/01/2011, NAU’s contributions do not vest unless you separate due to involuntary reductions in force or position elimination.

The ASRS Service Purchase Program allows active members of the ASRS or members receiving benefits under the ASRS Long Term Disability Income Plan, to purchase past service time under specific qualified categories.

Purchasing additional service credit may increase your lifetime monthly benefit and/or qualify you for retirement at an earlier date. View service purchase information.

The ASRS Service Purchase Program allows active members of the ASRS or members receiving benefits under the ASRS Long Term Disability Income Plan, to purchase past service time under specific qualified categories. Purchasing additional service credit may increase your lifetime monthly benefit and/or qualify you for retirement at an earlier date. View service purchase information.

Contact ASRS at 800-621-3778

Normal retirement is the earliest you can retire with a full benefit from ASRS.  Requirements for normal retirement are based on when you were hired:

If you were hired prior to July 1, 2011

• Age 65
• Age 62 and 10 years of service
• 80 points (Age + Service)

If you were Hired on or after July 1, 2011

• Age 65
• Age 62 and 10 years of service
• Age 60 and 25 years of service
• Age 55 and 30 years of service

Note: Members can retire with a lifetime benefit as early as age 50 once they have 5 years of service.

Members can retire with a lifetime benefit as early as age 50 once they have 5 years of service.

Because retirement benefits are based on “normal” retirement rules, a member who takes an early retirement will receive a reduced benefit for their lifetime.

When a member reaches normal retirement before filing for retirement, then they receive full benefits once a completed retirement application is filed and the desired retirement date is reached.

Visit ASRS retirement eligibility.

Log into your MyASRS account to get your personalized estimate. Visit the ASRS Estimate Your Benefits webpage.

If you move to another ASRS employer and still meet membership criteria, your ASRS membership will continue with contributions being withheld at the same contribution rate. The ASRS has over 700 employer members, covering nearly all education and governmental organizations in the State of Arizona.

If you leave for a private-sector job, any other employment not covered by the ASRS, or will not be working at all, you can:

• Retire from ASRS if you are eligible, OR,
• Take a refund of your account and pay all taxes and penalties, OR,
• Rollover your funds to another qualified retirement program, OR,
• Leave your funds on account with ASRS and retire in the future or take a refund of vested contributions.

Visit refunding your account and terminating ASRS membership.

You can request a refund of your ASRS at any point after your final paycheck at NAU is processed. Visit refunding your account and terminating ASRS membership.

No. Under state law, active, contributing members are not allowed to withdraw, refund or borrow against their ASRS account.

Not directly, they different types of retirement plans.  ASRS is a defined benefit plan and a 401(k) is a defined contribution plan.

Contact ASRS for information on previous employer plans that may qualify for service purchase.

Yes, you can collect ASRS pension while living in another state. However, the ASRS cannot make direct deposits to foreign bank accounts. Visit retiree miscellaneous information.

Yes, you can meet with a representative of any of NAU’s retirement vendors.

Most of the retirement vendors come to NAU or hold virtual meetings monthly. Visit the financial planning page.

Any employee type can participate in the webinars offered but you must create a guest account. Visit the Vendor Contact webpage which includes the provider’s website address and customer service phone number.

The retirement providers offer both live and on-demand webinars on a variety of topics.

Fidelity

• View On-demand web workshops
• Tools and resources for current Fidelity participants
• Resources for non-Fidelity participants

TIAA

• Learn more about virtual counseling
• Visit TIAA.org/webinars to register or watch past presentations on demand.
• Explore available webinars
• Stay up-to-date with weekly market commentary
• How to handle the ups and downs of the market

Nationwide 

MyInvestmentPlanner takes you through a questionnaire that can help you identify your investment style, asset mix, tolerance for risk, personal goals and more.

Visit the 457 Learning Tools Index

ASRS

• ASRS member education
• View the Road to Retirement