Multiple retirement plans, financial education and benefits are available to faculty and staff eligible for benefits. ASU offers pre-retirement meetings and review sessions to help guide eligible employees preparing to leave an active work life.
Eligible ORP participants can transition into retirement by participating in the ORP phased retirement program. Visit phased retirement FAQs for more information.
ASU retirement eligibility
- Be at least age 50 or age 41 if you are a Public Safety Personnel Retirement System member.
- Complete at least five years of continuous, full-time employment in the Arizona University System immediately preceding retirement.
- Not have been involuntarily terminated from employment by the university for cause.
- Receive a retirement pension or distribution under an Arizona university-sponsored mandatory retirement program.
Learn about retiring from ASU, ending of ASU benefits, state-sponsored retiree health insurance options, life insurance options, vacation payouts, the Retiree Accumulated Sick Leave program, ASU retiree benefits and working after retirement rules. Retirement income information is not provided at these meetings. Participants must contact their retirement provider for income information.
Faculty, academic professionals on academic-year appointments not returning in the fall
Regardless of your pay schedule— academic or fiscal — your last day of employment is May 15. Your termination or retirement effective date is May 16. Fiscal pay contracts will be paid out. Employees on an academic pay schedule are reimbursed pre-collected benefits deductions upon separation from employment.
Important: Requests for termination dates for tenure-track, tenured and multi-year faculty, and continuing-track, continuing-status and multi-year academic professionals after May 15 require that your summer salary be paid from grant funds or some other funding source using appropriate employee-related expense rates and you have received approval from the Provost’s Office by May 1.
Resignations or retirements received after May 15 will require you to reimburse ASU for any salary paid on your behalf. Failure to make reimbursements in a timely manner will be subject to collections.
If you will be working all summer or a portion of it, then your benefits will remain active until the summer position and benefits-eligible positions are terminated. Your pre-collect dollars will be used to cover your benefits during this timeframe.
Arizona State Retirement System member education
Optional retirement plan
- Fidelity, 800-343-0860
- TIAA, 800-842-2776
- VALIC, 800-892-5558, x89005
Public Safety Personnel Retirement System request for retirement estimate and application