Retirement Plans

The College benefits include a choice between two Retirement Plan Options. Enrollment in a retirement plan is a mandatory benefit. Included with both retirement options is Long Term Disability insurance. This coverage for employees is provided through the retirement plan an employee elects.

Eligibility

• Enrollment in a retirement program is mandatory.
• Retirement plan options are offered to all full-time benefit eligible employees and employees who are employed in an eligible position for at least 20 or more hours per week as per Arizona Revised Statutes § 38-711.22(b).

Arizona State Retirement System: (ASRS)

In the Arizona State Retirement System, a defined benefit plan, your retirement benefit is defined by a standard formula (age plus years of service) payable at normal retirement age. You and the College make contributions established by Arizona legislation and the ASRS.

Optional Retirement Plan: (ORP)

In the Optional Retirement Plan, a defined contribution plan, your retirement is determined by the amount of contributions and the results of your investment choices. You and the College make contributions established by Arizona legislation. You determine the investment allocations. You accept full responsibility and risk for investment choices. The approved investment fund companies are: ING; TIAA-CREF, VALIC (AIG Retirement).

Links to ORP Fund Company Websites:

Contact representatives from ASRS and the ORP investment companies to discuss the options that will best meet your future retirement needs.

Comparison of the ASRS and ORP Retirement Options

Supplemental Retirement Plans

Frequently Asked Questions