State Retirement Contribution Rates to Increase in July

Employees who participate in the Arizona State Retirement System will see more money coming out of their paychecks for retirement beginning July 1.

The Arizona State Retirement System, or ASRS, Board of Trustees has approved a 9.85 contribution rate for the ASRS Defined Benefit Plan, up from the current contribution rate of 9.4 percent. The change, blamed on the struggling economy, will affect about 71 percent of retirement-eligible employees at the UA. The other 29 percent do not have the ASRS plan. 
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