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Retirement Plans

Arizona State Retirement System

The Arizona State Retirement System (ASRS) was created in 1953 to provide a defined benefit upon retirement to the employees of state, counties and municipalities, colleges and universities, and other political subdivisions in Arizona.

 
The retirement plan is funded in equal shares by the employer and employee and the contribution rate is calculated annually by an actuarial valuation of the Plan.  Currently this amount is 8.95%.  A separate contribution for long-term disability (LTD) must be paid to the retirement system.  The LTD coverage is funded at a rate of 0.50 percent of compensation for the employee and is matched by the city.  The total amount that will come out of your check will be 9.45%.

 
As a defined benefit retirement plan, the ASRS pays retirement benefits determined by a set formula.  A member's benefit is equal to the average monthly compensation multiplied by the total credited serve multiplied by a factor set by statute.

 
Retirement Benefit = Average Monthly Compensation x Total Service Credit x Factor

 
For more information on ASRS, go to their website www.asrs.state.az.usleavingcos.gif (340 bytes)

 
ASRS Getting Ready to Retire Brochure
 

 

Public Safety Personnel Retirement System (for sworn positions only)

The Public Safety Personnel Retirement System (PSPRS) is a special retirement system created by the state legislature for certain full-time certified peace officers and full-time fire fighters in the state of Arizona. The System provides a uniform, consistent and equitable statewide retirement program to these public safety personnel who are regularly assigned to hazardous duty of the type expected of peace officers or fire fighters. The System is designed to meet the special needs of personnel engaged in hazardous duty situations.

 
PSPRS normal retirement is the first day of the calendar month following a member’s completion of twenty years of service or if the member is still working, the member’s sixty-second birthday if the member has at least fifteen years of service. Pension payments begin on the last day of the retirement month.

 
For more information on PSPRS, go to their website www.psprs.comleavingcos.gif (340 bytes)

 
Contacts

  • Arizona State Retirement System
    3300 N. Central Ave.
    P.O. Box 33910
    Phoenix, AZ  85067-3910
    Phone: (602) 240-2000
    Toll Free: (800) 621-3778
    TTY: (602) 240-3100
  • Public Safety Personnel Retirement System
    3010 East Camelback Road, Suite 200
    Phoenix, AZ 85016-4416
    Phone: (602) 255-5575
    Fax: (602) 255-5572
  • Contact Human Resources at (480) 312-7600
  • Send an email to hr@ScottsdaleAZ.gov
  • Stop by one of our offices (7575 E. Main St or at the Corporation Yard).

This guide represents a summary of benefits provided by the City of Scottsdale to benefited employees. Every effort has been made to report information accurately. All information, including the amount of any benefit and employee eligibility of benefits, is subject to and governed by the terms and conditions of the applicable policy or plan documents. In all cases where any of the information provided in this guide differs from the amount of benefit actually provided by the policy or plan, the terms of the legal documents will control.