Compensation Rule Reminder

Throughout this quarter, the ASRS has been communicating with employers about Rules regarding eligible compensation for ASRS members. As a reminder, the latest information on this topic was sent to all employers via email on March 2, 2018.

The ASRS is pursuing an emergency rulemaking to modify the recently adopted administrative rule on the definition of compensation. The change will mean that the new definition will apply only to employees who became ASRS members on or after January 1, 2018.
For a full update on ASRS Compensation Emergency Rulemaking, Click Here.

In-Progress Legislation and Rulemaking

Currently, the ASRS is pursuing three separate bills as follows:

HB2034: This bill would allow the Governor the flexibility to designate any state agency as the State Social Security Administrator, which is charged with reviewing and maintaining § 218 agreements regarding Social Security withholding for all public employers in Arizona.

HB2035: This bill changes the composition of three of the seven positions on the Deferred Compensation Committee. It would allow the Governor to appoint either experts to the Committee or an individual who has an account in one of the plans the Committee governs. The bill also makes some additional statutory changes such as adjusting when the Committee is required to meet and ensuring that Committee members are subject to state conflict of interest laws.

Recently, the ASRS published an article titled "How To Settle A Loved One's Affairs" in our first quarter publication of Your Retirement - a newsletter targeted to ASRS retirees. One of the steps in the article mentions to contact employers of the decedent should the survivor need information on life insurance policies, pension plans, and retirement benefits. The full article can be found here on page six, should you be contacted. As always, feel free to contact us if you have questions!