Phoenix Arizona Retirement Benefits Plan

• Category: Corporations - Public - Retirement
• State: Multi-State
• City: Phoenix
• Control #: US-CC-21-166
• Format: Word; Rich Text

Description

21-166 21-166 . . . Retirement Benefits Plan under which trustees and officers with 15 or more years of service receive annual retirement benefit based on percentage of average annual compensation for 36 months of service immediately preceding retirement. The amount of annual benefit ranges from 25% of such average annual compensation for 15 years of service to 75% for 25 or more years of service The Phoenix Arizona Retirement Benefits Plan is a comprehensive program designed to provide financial security and peace of mind for retirees residing in Phoenix, Arizona. This retirement plan offers various benefits and options to help retirees lead a comfortable and fulfilling life during their golden years. The plan caters to government employees, including teachers, police officers, firefighters, and other public servants who have dedicated their careers to serving the Phoenix community. The retirement benefits plan ensures that these individuals are well taken care of after their active employment ends. One major type of retirement benefit plan available in Phoenix, Arizona is the Arizona State Retirement System (ASKS). The ASKS are a defined benefit plan that provides retirement income based on an employee's years of service and salary history. This plan guarantees a fixed monthly benefit throughout retirement, offering stability and predictability. Another retirement benefits plan available in Phoenix is the Public Safety Personnel Retirement System (PS PRS). This plan is specifically tailored for public safety employees, such as police officers and firefighters, and offers enhanced benefits to reflect the unique nature and risks associated with their professions. Additionally, the Phoenix Employees Retirement System (PEERS) is designed for municipal employees, including those working in administrative roles, sanitation, and other city departments. This plan ensures that these employees receive retirement benefits that adequately support their post-employment needs. Key features of the Phoenix Arizona Retirement Benefits Plan include access to healthcare coverage, including medical, dental, and vision plans, to ensure retirees can maintain their well-being. The plan also offers life insurance options, providing financial protection for beneficiaries. Moreover, beneficiaries may receive survivor benefits, guaranteeing some level of financial security to their loved ones in case of their passing. Retirement benefits under the Phoenix Arizona Retirement Benefits Plan are often supplemented by Social Security benefits, offering retirees an additional income source. Further, retirees may have the opportunity to participate in voluntary retirement savings programs, such as a 401(k) or 457(b) plan, allowing them to contribute additional funds towards their retirement goals. To support retirees holistically, the plan also includes resources for wellness programs, counseling services, and educational workshops to address physical, mental, and emotional well-being during retirement. In summary, the Phoenix Arizona Retirement Benefits Plan is a comprehensive program offering various retirement benefits and opportunities for government employees residing in Phoenix, Arizona. With different types of plans catering to specific employee groups, this retirement benefits program aims to provide financial security, healthcare coverage, and additional resources to ensure a comfortable and fulfilling retirement experience for all eligible individuals.

The Phoenix Arizona Retirement Benefits Plan is a comprehensive program designed to provide financial security and peace of mind for retirees residing in Phoenix, Arizona. This retirement plan offers various benefits and options to help retirees lead a comfortable and fulfilling life during their golden years. The plan caters to government employees, including teachers, police officers, firefighters, and other public servants who have dedicated their careers to serving the Phoenix community. The retirement benefits plan ensures that these individuals are well taken care of after their active employment ends. One major type of retirement benefit plan available in Phoenix, Arizona is the Arizona State Retirement System (ASKS). The ASKS are a defined benefit plan that provides retirement income based on an employee's years of service and salary history. This plan guarantees a fixed monthly benefit throughout retirement, offering stability and predictability. Another retirement benefits plan available in Phoenix is the Public Safety Personnel Retirement System (PS PRS). This plan is specifically tailored for public safety employees, such as police officers and firefighters, and offers enhanced benefits to reflect the unique nature and risks associated with their professions. Additionally, the Phoenix Employees Retirement System (PEERS) is designed for municipal employees, including those working in administrative roles, sanitation, and other city departments. This plan ensures that these employees receive retirement benefits that adequately support their post-employment needs. Key features of the Phoenix Arizona Retirement Benefits Plan include access to healthcare coverage, including medical, dental, and vision plans, to ensure retirees can maintain their well-being. The plan also offers life insurance options, providing financial protection for beneficiaries. Moreover, beneficiaries may receive survivor benefits, guaranteeing some level of financial security to their loved ones in case of their passing. Retirement benefits under the Phoenix Arizona Retirement Benefits Plan are often supplemented by Social Security benefits, offering retirees an additional income source. Further, retirees may have the opportunity to participate in voluntary retirement savings programs, such as a 401(k) or 457(b) plan, allowing them to contribute additional funds towards their retirement goals. To support retirees holistically, the plan also includes resources for wellness programs, counseling services, and educational workshops to address physical, mental, and emotional well-being during retirement. In summary, the Phoenix Arizona Retirement Benefits Plan is a comprehensive program offering various retirement benefits and opportunities for government employees residing in Phoenix, Arizona. With different types of plans catering to specific employee groups, this retirement benefits program aims to provide financial security, healthcare coverage, and additional resources to ensure a comfortable and fulfilling retirement experience for all eligible individuals.