Retirement is a major milestone for corrections, detention, AOC probation and surveillance officers who serve the state and their communities. Members applying for normal retirement must meet credited service, and, in some cases, age eligibility criteria.
Pension benefits from CORP are constitutionally guaranteed in Arizona and adjusted annually for inflation to provide lifetime financial payments to plan retirees and surviving spouses. Unlike traditional investment-based retirement plans, CORP pension benefits are unaffected by stock market fluctuations or adverse economic conditions.
Defined contribution (DC) plan participants can check with Nationwide Retirement Solutions for account balances and making withdrawals.
As members approach or begin this new chapter of life, PSPRS is here to provide support every step of the way. Below, members will find a guide outlining the steps for applying for retirement benefits through PSPRS.
Retiring members are encouraged to sign up to receive PSPRS newsletters and relevant updates to their personal email addresses.
Step 1: Confirm retirement eligibility and choosing a retirement date
Members may confirm their retirement eligibility and estimate their potential benefits by logging into their Members Only portal account and using the pension benefits estimator. Members approaching or planning their retirement may also contact PSPRS to schedule a meeting with staff to review their credited service, contribution record and estimated pension.
Member retirement dates are effective the first of the month following the termination date of their employment. Example: June 15 final day of employment will create a July 1 effective retirement date.
Step 2: Complete the request for retirement estimate & application
Once a member decides to retire and apply for benefits they will need to complete the Request for Retirement Estimate & Application form and include both the member and employer signatures. This ensures that the employer is aware of the date of the member’s retirement and that accurate contributions are made through the member’s last day. Completed forms can be emailed or faxed by employers or retiring members to the Member Services Department. Contact information is on the top right corner of the form. Please note that retiring members are encouraged to provide personal email addresses on their benefit application forms, as work email addresses are often discontinued by employers after members retire.
Step 3: Receiving and reviewing the application
The Member Services Department will email benefit applications and benefit calculations to the email address provided by retiring members. During this process, members will complete forms for direct deposit, reporting state and federal taxes and beneficiary forms. Members will also be required to provide documents such as birth certificates, recorded/filed marriage certificates and other legal documents such as divorce decrees and domestic relations orders to PSPRS.
The completed benefit application and supporting documentation must be returned no later than the 10th of the effective retirement month to begin receiving pension benefits at the end of the month. Example: Members with a July 1st effective retirement date must complete all the necessary paperwork and submit the packet to PSPRS by July 10th.
Step 4: PSPRS administrative office initiates payments
The PSPRS Member Services Department reviews properly completed benefit packets and establishes benefit for payment. Pension benefits are paid on the last business day of each month.