Saving for Retirement – Arizona State Retirement System (ASRS) (mandatory for employees who meet the ASRS 20/20 rule)
Eligible Amphitheater employees are covered under the Arizona State Retirement System (ASRS) for both a defined-benefit pension and long-term disability insurance. Contribution rates are set annually by ASRS and your contribution is matched 100% by Amphi. Participant statements are available online and you must register your account upon hiring in to Amphi. The ASRS website also allows participants to make changes on-line (address, beneficiary, etc.), provides for on-line retirement estimates, lists available seminars, and more.
When applicable, the plan has options for retiring based on age and years of credited service. There are options for medical and dental insurance as part of the retirement package.
If you have questions, please contact ASRS at (520) 239-3100.
Saving for Retirement – Tax Sheltered Annuities
Under IRS guidelines, 403B and 457 accounts allow you to defer taxes on a portion of your income while saving this money for retirement. These programs are funded fully by the employee. There are IRS limits on what you are able to invest in, the amount you are able to contribute, ability to make withdrawals, etc. Please understand that TSA deductions only occur 20 times a year to match other school year deductions. Deductions will not occur over the summer or when off-cycle paychecks occur, for instance, retention stipends. Deductions for the 2023-2024 school year will occur between August 25, 2023 and May 17, 2024.
The Tax Sheltered Annuities Administrator for Amphi is US Omni & TSACG Compliance Services (formerly known as TSA Consulting Group). For information on Amphi’s plan, please refer to the 403 B plan document or the 457 plan document.
Two easy steps to begin saving:
You must choose an authorized vendor and set up an account. Please see the attached list of the eligible investment providers for you to choose from.
Go online to Omni & TSACG and set up your “Salary Reduction Agreement.” All transactions for Tax Sheltered Annuities are done online through Omni & TSACG's Online Distribution System. Changes to your deductions requested through the SRA system may take up to two (2) payroll cycles to take effect. If you have questions, please contact Omni & TSACG at 1-888-796-3786.
Should you leave the District, change your investment company, or are eligible to begin drawing funds, Omni & TSACG has provided Distribution Information. If you have questions about whether you are eligible to make a transaction, please contact your investment company.