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ARIZONA STATE RETIREMENT SYSTEM (ASRS) AFFIDAVIT OF OTHER PUBLIC SERVICE INSTRUCTIONS Phoenix (602) 240-2000 Tucson (520) 239-3100 Toll-free (800) 621-3778 Fax (602) 240-2096 www.azasrs.gov Note:.

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Any member can retire at 65 years old, but you can retire with a reduced benefit as early as 50 years old as long as you have 5 years of service credits.

Yes; membership in the ASRS is mandatory if you work for employers who are part of the ASRS and meet membership criteria. A couple of exceptions: 65+ Waiver. If you're new to the ASRS and 65 or older on your first day of employment, you can waive ASRS membership.

In general, if an ASRS retiree returns to work for an ASRS employer and works or agrees to work 20 or more hours a week for 20 or more weeks in a fiscal year (referred to as 20/20 criteria), their pension will be suspended and active membership resumed.

For starters, the ASRS is what's called a “Defined Benefit Plan.” In technical terms, it's a 401(a) plan that is governed by Arizona statute and IRS rules. A more simple explanation: it's a mandatory-participation retirement plan that provides ASRS retirees with benefit payments for the rest of their life.

When it comes to retirement, ASRS members are “vested” from the date their first contribution is received. Members may keep their funds on account with ASRS until they meet their normal retirement criteria, at which point they can retire, even with only 1 month of service.

Arizona law allows a member to retire, receive a pension and continue working without first terminating employment if all the following conditions are met: Member must have reached normal retirement on or before the date of retirement. Member's work hours must be reduced below 20/20 after retirement.

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.

California businesses with 5+ employees are legally required to offer a qualified retirement plan or the state-sponsored option.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232