Classified staff and service professionals who participate in the Arizona State Retirement System will see the second of two rate increases beginning July 1.
The total contribution rate will be 9.1 percent of gross pay per employee (NAU matches all employee contributions) and will be seen on the first paycheck of the upcoming fiscal year, July 7.
The new rate is an increase of the current 6.9 percent, which took effect in fiscal year 2006. The new rate is based on 8.6 percent contribution toward the retirement plan plus another 0.5 percent for long-term disability.
A fact sheet on contribution rates is available online .
For information, go to www.nau.edu/hr or call the Arizona State Retirement System Member Service Advisory Center toll free at (800) 621-3778, Phoenix (602) 240-f2000, Tucson (520) 239-3100.