Arizona State Retirement System
ASRS is an Arizona state-government pension trust, established in 1953, that administers a defined-benefit retirement plan, long-term disability coverage, retiree health insurance, and supplemental savings for more than 650,000 Arizona public-sector members across 700+ governmental and education employers.
- Company typePublic
- Founded1953
- HeadquartersPhoenix, United States
- Headcount251–500
- GTM typeB2C
- OfferingServices
What Arizona State Retirement System does
Arizona State Retirement System (ASRS) is a state-government pension trust established in 1953 that administers a tax-qualified 401(a) cost-sharing Defined Benefit Plan for Arizona public servants, along with a Long Term Disability Income Plan, a retiree health insurance program, and supplemental savings options. The system serves more than 650,000 members — including more than 175,000 retired benefit recipients — through approximately 700 employer partners covering nearly all Arizona education and governmental entities, with mandatory enrollment upon qualifying employment. Member and employer contributions are split equally; the FY 2025-26 total rate is 12.00% of gross pay each side (11.86% pension plus 0.14% LTD), and rates are adjusted annually based on actuarial determination.
The technology surface centers on the myASRS secure member portal, which provides 24/7 self-service for account balances, benefit estimation via an online calculator, retirement applications, beneficiary management, tax withholdings, and secure messaging. Identity verification is handled through ID.me under federal consumer authentication standards, and LTD claim management is delivered through a Broadspire-operated portal. Retirement income is computed from a formula based on service credit, average monthly compensation, and a graded multiplier, with multiple annuity options (including Joint and Survivor) and survivor benefits equal to double contributions plus interest for pre-retirement deaths. Member education is delivered via webinars, group meetings (including in-person sessions at the Phoenix headquarters), and social channels.
ASRS generates no commercial revenue; the trust is funded through cost-sharing contributions from active members and participating employers, plus investment returns on a portfolio that includes disclosed public-equity positions (e.g., Visa above $170 million; Thermo Fisher $62 million; RTX $69.76 million; NextEra $47.26 million; plus Duke Energy, Southern Company, and Marsh & McLennan each above $25 million) and alternative investments such as the 2018 acquisition of Mill Creek Residential Trust and a pre-IPO investment in Cartiga LLC. Distribution of supplemental products — Nationwide-administered 457(b) and 403(b) savings plans, UnitedHealthcare retiree medical, Delta Dental PPO plans, and Cigna Dental DHMO — is exclusive to ASRS members via carrier partnerships.
Arizona State Retirement System firmographics
Firmographics- Name
- Arizona State Retirement System
- Legal name
- Arizona State Retirement System
- Website
- https://azasrs.gov
- Company type
- Public
- Founded year
- 1953
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- ASRS is an Arizona state-government pension trust, established in 1953, that administers a defined-benefit retirement plan, long-term disability coverage, retiree health insurance, and supplemental savings for more than 650,000 Arizona public-sector members across 700+ governmental and education employers.
- Ownership category
- akta.pro rank
Arizona State Retirement System industry classification
Industry- Product category
- Public Pension Administration
- NAICS
- Pension Funds (525110), Health and Welfare Funds (525120)
- SIC
- Hospital & Medical Service Plans (6324)
- akta.pro primary industry
- Taft-Hartley / Labor Union & Public Sector Retirement Systems (FSAAAGAK)
- akta.pro secondary industries
- Benefits Administration (BPACAPAC), Healthcare-Linked Social Benefits Administration (e.g., Medicaid/Means-Tested Health Coverage) (BPAIAKAH), Group Disability Income Insurance (Employer-Sponsored) (FSAIAIAB), Eligibility, Enrollment & Benefits Administration (HLAEALAH)
Keywords
Where Arizona State Retirement System is headquartered
LocationHeadquarters
- HQ city
- Phoenix
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Arizona State Retirement System business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Infrastructure, Others
Revenue model
- Member and Employer Contributions: ASRS operates as a cost-sharing defined benefit plan where both members and employers contribute equally. Contribution rates are actuarially determined and adjusted annually. FY 2025-26 rates: 11.86% pension/health insurance + 0.14% LTD for total of 12.00% each from employee and employer. The plan is tax-qualified under section 401(a) of the Internal Revenue Code.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Per pay period | Standard Member Contribution Rate FY 2025-26 |
| Subscription | Per pay period | Standard Employer Contribution Rate FY 2025-26 |
| Subscription | Monthly | Delta Dental High Plan Option |
| Subscription | Monthly | Delta Dental Low Plan Option |
| Subscription | Monthly | Cigna Dental DHMO |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels5 records
Arizona State Retirement System product offering
Product offeringCore offering
Arizona State Retirement System is a state agency that administers a defined benefit pension plan, a long term disability income plan, and retiree group health and dental insurance plans for Arizona's public servants. It collects equal member and employer contributions, invests the pool, and pays lifetime monthly retirement benefits plus disability and survivor benefits to more than 650,000 members through its myASRS portal and employer payroll integrations.
Product overview
Arizona State Retirement System operates a comprehensive retirement benefits platform consisting of a Defined Benefit Plan as the core product, supplemented by Long Term Disability Income Plan, Retiree Health Insurance Program (offering Medicare and non-Medicare medical plans through UnitedHealthcare, plus dental through Delta Dental and Cigna), and Supplemental Savings Plans (457(b) and 403(b) administered by Nationwide). The system also provides Survivor Benefits and member-facing tools including online benefit estimators and a Service Purchase Program. The platform serves over 650,000 members including more than 175,000 retired members through the myASRS secure portal.
Differentiator
Problem solved
Functional benefit
Products and services
- ASRS Defined Benefit Plan
- Long Term Disability Income Plan
- ASRS Retiree Health Insurance Program
- Supplemental Savings Plans (457(b) and 403(b))
- Survivor Benefits
- Service Purchase Program
Quantifiable outcome
- Average ASRS benefit payment for retirees with 20+ years of service is approximately $1,700/month
- +1 more outcomes
Companies that use Arizona State Retirement System
Customer profileNamed customers1 record
Segments1 record
Ideal customer profiles2 records
Arizona State Retirement System technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
Feature3 records
Arizona State Retirement System partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered core.
- Nationwide Retirement SolutionscoreNationwide manages supplemental savings plans (457(b) and 403(b)) for ASRS members, providing high-quality, low-fee investment options. Plans are overseen by ASRS and available to members based on employer type. Nationwide provides professional customer service and financial planning services.
- ID.mecoreID.me provides digital identity verification wallet meeting federal standards for consumer authentication. Required for secure myASRS account access. ASRS transitioned from previous login process to ID.me for enhanced security. Verified identity accounts allow single login to access both ASRS and other government services.
- Broadspire Services, Inc.coreASRS contracted with Broadspire for administration of the Long Term Disability Income Plan. Broadspire provides claim management services, a member portal for 24/7 status updates, direct deposit setup, and tax withholding management for LTD benefits.
- UnitedHealthcarecoreUnitedHealthcare is the sole carrier for ASRS retiree health insurance plans. Offers Group Medicare Advantage HMO and PPO plans, and Non-Medicare Choice Premier, Value, and Economy plans. Mayo Clinic Arizona has special arrangement for ASRS/PSPRS members under UnitedHealthcare Group Medicare Advantage PPO.
- Delta Dental of ArizonacoreDelta Dental provides dental PPO plans for ASRS retirees including High and Low Plan options. More than 3,700 network dentists in Arizona and 150,000 network dentists nationwide.
- Cigna DentalcoreCigna provides Dental Health Maintenance Organization (DHMO) plan for ASRS retirees through Cigna Dental Care Access Plus Network. Features no deductibles or annual dollar limits with fixed copays.
Scale indicators10 records
Recent moves6 records
Expansion highlights4 records
Arizona State Retirement System competitors and assessment
Company assessmentOthers
- Nationwide Retirement Solutions: Nationwide Retirement Solutions is ASRS's partner administering supplemental 457(b)/403(b) savings plans. Relevant as a peer due to its deep involvement in the public sector retirement savings space and direct partnership with ASRS.
Broad incumbents
- Empower Retirement: Empower is a major national retirement plan administrator providing recordkeeping, 401(k)/403(b)/457 products, and pension administration. Comparable to ASRS as a complementary retirement services provider, particularly for supplemental savings products offered to public sector employees.
- TIAA: TIAA is a national financial services organization serving academic, governmental, and nonprofit employees with retirement plans and supplemental savings. Comparable to ASRS in serving similar member demographics and offering 403(b)/457(b) products, though it operates across multiple states as a national provider.
Direct peers
- State Teachers Retirement System of Ohio: STRS Ohio provides pension, disability, and health benefits to Ohio teachers and public employees. Comparable to ASRS in mandatory participation, DB pension structure, and education-sector heavy membership base.
- Florida Retirement System: FRS administers pension benefits for Florida state and local public employees. Directly comparable as a state-mandated DB pension system with similar member composition (teachers, government workers) and benefit offerings to ASRS.
- Texas Teacher Retirement System: TRS of Texas administers pension and health benefits for Texas public educators and employees. Comparable to ASRS in serving state public servants with DB pension, retiree health insurance, and supplemental savings products.
- New York State Common Retirement Fund: New York State Common Retirement Fund is one of the largest U.S. public pension pools, serving NY public employees with DB pension benefits. Comparable to ASRS as a state-level mandatory public sector retirement system.
- California Public Employees' Retirement System: CalPERS is the largest U.S. public pension fund, administering defined benefit pensions and health benefits for California public employees. Directly comparable as a state-level mandatory public sector retirement system with DB plan, health, and supplemental offerings similar to ASRS.
- Public Employees Retirement Association of New Mexico: PERA NM administers pensions and benefits for New Mexico public employees. Closely comparable regional peer as a smaller-state mandatory public sector DB pension system with similar benefit offerings.
- California State Teachers' Retirement System: CalSTRS administers the teacher pension system for California, providing DB retirement, disability, and survivor benefits. Directly comparable to ASRS as a state-mandated public sector pension with similar benefit structure and member base composition (educators).
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Arizona State Retirement System social profiles
Digital presenceArizona State Retirement System financial estimates
Financial estimateRevenue estimate
Valuation estimate
Arizona State Retirement System leadership team
Management profileNumber of profiles
Profiles5 records
Arizona State Retirement System funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Arizona State Retirement System M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Arizona State Retirement System
What does Arizona State Retirement System do?
Arizona State Retirement System is a state agency that administers a defined benefit pension plan, a long term disability income plan, and retiree group health and dental insurance plans for Arizona's public servants. It collects equal member and employer contributions, invests the pool, and pays lifetime monthly retirement benefits plus disability and survivor benefits to more than 650,000 members through its myASRS portal and employer payroll integrations.
Is Arizona State Retirement System a public or private company?
Arizona State Retirement System is a public company. It is classified as state government owned and is currently operating.
When was Arizona State Retirement System founded?
Arizona State Retirement System was founded in 1953. It employs 251 to 500 people.
Where is Arizona State Retirement System based?
Arizona State Retirement System is headquartered in Phoenix, United States, in the North America region.
How does Arizona State Retirement System make money?
One revenue line is on record: member and Employer Contributions.
Who are Arizona State Retirement System's main competitors?
Nationwide Retirement Solutions is listed as an others. Broad incumbents are Empower Retirement and TIAA. Direct peers are State Teachers Retirement System of Ohio, Florida Retirement System, Texas Teacher Retirement System, New York State Common Retirement Fund, California Public Employees' Retirement System, Public Employees Retirement Association of New Mexico and California State Teachers' Retirement System.
Does Arizona State Retirement System have an API?
No public API is recorded for Arizona State Retirement System.
What industry is Arizona State Retirement System in?
Arizona State Retirement System's product category is Public Pension Administration. Its primary akta.pro industry code is FSAAAGAK, Taft-Hartley / Labor Union & Public Sector Retirement Systems, with a secondary code of BPACAPAC, Benefits Administration. Its NAICS code is 525110 and its SIC code is 6324.