Employees who work more than 20 hours per week and 20 weeks per year will participate in the ASRS.
Under ASRS, employees are required to contribute 11.48% of their gross salary to their retirement, and .12% of their gross salary for long term disability for a total contribution of 11.60%. NACOG matches that 11.60% contribution.
The Arizona State Retirement System, created in 1953, is a state agency providing a guaranteed life-long pension benefit, a long-term disability income plan, retiree health insurance and survivor benefits to its members.
Contribution rates are actuarially determined and approved by the ASRS Board of Trustees and are adjusted to ensure the plan remains fiscally sound and able to meet current and future obligations. The ASRS is a match plan, meaning that the contribution rate applies to employees and employers.
There are two portions to the ASRS contribution rate -- the Retirement Pension & Health Insurance Benefit, and the Long-Term Disability Income Plan. The Pension Plan contribution is a pre-tax deduction, and the Long-Term Disability deduction is post-tax.
For more informaiton on the Arizona State Retirement System,
please visit the ASRS website at www.azasrs.gov or call 1(800) 621-3778.
For questions regarding your benefits, contact the NACOG Human Resources Department.
View the video below to learn more about the benefits of being an ASRS member: