ASRS Contribution Rates

After the close of each fiscal year, the Arizona State Retirement System (ASRS) conducts a valuation of the various benefit plans that it manages to ensure they are fiscally sound. From the valuations, contribution rates are set for the next fiscal year.

Fiscal year end of June 30, 2023 was a relatively strong economic period. The ASRS total fund had a return of 8.2 percent, above their assumed earnings rate of 7 percent. As such, contribution rates taking effect July 1, 2024 will actually decrease slightly, from the current 12.29 percent for Employee and Employer, to 12.27 percent. This includes the Pension and Health Insurance Benefit, and the Long Term Disability Income Plan.