A. A member who has attained age fifty, who has terminated employment with all employers and who has five years of total credited service is eligible to elect, in a form and manner prescribed by the board, to receive a reduced retirement income.
B. For a member whose membership in ASRS commenced before July 1, 2011, the benefit payable to a member electing early retirement shall be determined by reducing the normal retirement benefit computed in accordance with section 38-757 either:
1. At the rate of three percent per year from age sixty to age sixty-five and five percent per year from age fifty to age sixty. The reduction in normal retirement benefits pursuant to this paragraph for an eligible member electing early retirement shall be based on the period from the date of commencement of early retirement benefits to the member's sixtieth birthday if the member has at least twenty years of total credited service, sixty-second birthday if the member has at least ten but less than twenty years of total credited service or sixty-fifth birthday if the member has at least five but less than ten years of total credited service.
2. If the sum of a member's age and years of total credited service equals seventy-seven or more, but is less than eighty, at the rate of three percent for each unit of one or fraction of one by which the sum is less than eighty.
C. For a member whose membership in ASRS commenced on or after July 1, 2011, the benefit payable to a member electing early retirement shall be determined by reducing the normal retirement benefit computed in accordance with section 38-757 at the rate of three percent per year from age sixty to age sixty-five and five percent per year from age fifty to age sixty. The reduction in normal retirement benefits pursuant to this subsection for an eligible member electing early retirement shall be based on the period from the date of commencement of early retirement benefits to the member's sixty-second birthday if the member has at least ten years of total credited service or sixty-fifth birthday if the member has at least five but less than ten years of total credited service.
Notes of Decisions
Marriage of Boncoskey v. Boncoskey, 167 P.3d 705 (Ariz. Ct. App. 2007).
· cites it 4× “A.R.S. § 38-758. ¶5 In addition, the ASRS allows an employee to elect as an optional form of retirement benefit a joint and survivor annuity.”
Sines v. Holden, 360 P.2d 218 (Ariz. 1961).
· cites it 2× “The Retirement System Board requires that the application for such refund be certified by the employer stating that the petitioner is an ex-employee and the final payroll period for which a deduction was made and the amount thereof.”
Schade v. Arizona State Ret. Sys., 510 P.2d 42 (Ariz. 1973).
“Schade’s account at his death, hut prior to the date of retirement, is set out in § 38-758, subsec. E, A.R.S.: “E. Upon the death of a member prior to retirement, the designated beneficiary or the estate of the deceased shall be entitled to a payment equal to the balance in the…”
State ex rel. Goddard v. Phoenix Union High Sch. Dist. No. 210, 96 P.3d 220 (Ariz. Ct. App. 2004).
· cites it 2× “See A.R.S. § 38-758 (2001). . The ESP was offered only to individuals who "felt that they would have taken the VIP II had it been known at the time that the state retirement system was going to change its calculations of benefits and include the VIP benefit in their retirement…”
French v. Babb, 419 P.2d 97 (Ariz. Ct. App. 1966).
“(A.R.S. 38-758) In the event of death after retirement and a balance remains in the retirement account, the statute does provide that the balance shall be paid to the designated beneficiary or to the estate of the deceased member.”
Susan Lagerman v. Arizona State Ret. Sys. (Ariz. 2020).
· cites it 2× “See A.R.S. §§ 38-758, -760, and -776. ¶20 Retiring members can choose to receive their retirement benefit as a joint and survivor annuity, a period-certain annuity, a straight life annuity, or take a lump sum at the time of retirement and thereafter receive a life annuity.”
State v. Phoenix Union High Sch., 96 P.3d 220 (Ariz. Ct. App. 2004).
· cites it 2× “See A.R.S. § 38-758 (2001). [2] The ESP was offered only to individuals who "felt that they would have taken the VIP II had it been known at the time that the state retirement system was going to change its calculations of benefits and include the VIP benefit in their retirement…”
— Ariz. Rev. Stat. § 38-758(C) — 1 case
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