Nationwide^® has worked with public sector employees for more than 30 years, so we know the kinds of questions you may have about your employer-sponsored plan. We’ll give you the tools and information to help you feel confident about investing for retirement. Keep in mind that investing involves market risk, including possible loss of principal, and there’s no guarantee that investment objectives will be achieved.

Detailed plan information is available for employees

• SRSP Defined Contribution Enrollment Guide (PDF)
• 401(a) IPR (PDF)
• Investment Policy Statement (PDF)

What are my plan options?

The 401(a) Supplemental Defined Contribution Plan for State of Arizona Employees offered through the Arizona State Deferred Compensation Program allows eligible employees to make a one-time irrevocable decision to contribute a specified (and unchanging) amount from their paycheck as part of their supplemental retirement planning efforts. 

These contributions, which may be as much as $50,000 annually, are not includible in employees' gross income until distributions from the Plan begin.

How does it work?

To be eligible to participate, you must:

• Meet the 20/20 criteria (work a minimum of 20 hours a week for 20 or more weeks in a fiscal year) established by the State, and
• Be at least 40 years of age if participating in a qualified plan administered by the Arizona State Retirement System, or upon age 30 if participating in a qualified plan administered by the Public Safety Personnel Retirement System (PSPRS). When you reach your eligibility age, you have a two-year window within which to make a contribution election.

If you were already 40 years old and in a qualified ASRS plan or 30 years old and in the PSPRS at your date of hire or the inception date of this 401(a) plan, you have two years from the date of employment or date of inception, whichever is later, to elect to participate.  

Why should I participate?

• A tax-deferred way to invest for retirement. Withdrawals are taxed as ordinary income.
• Higher contribution limits than allowed under 457 or 403(b) pre-tax savings plans.
• Opportunity to create an individualized portfolio of investment options from a broad spectrum of asset classes.
• A home for rollovers, allowing you to consolidate and manage your retirement and savings plan assets through one low-cost Plan. Assets rolled over from a qualified plan or individual retirement account may be subject to a 10% penalty tax if withdrawn prior to age 59½.
• Access to more than 4,700 mutual funds and 150 exchange-traded funds through the self-directed brokerage services offered by Charles Schwab & Co., Member SIPC.

Investors should carefully consider information contained in the prospectus, including investment objectives, risks, charges and expenses. You can request a prospectus by calling Schwab’s dedicated PCRA Call Center at 1-888-393-PCRA (7272). Please read the prospectus carefully before investing.

What are my investment options?

You’ll have access to a wide range of investment options. Complete the Investor Profile in the SRSP Defined Contribution Enrollment Guide to determine your individual investment strategy.

There are different approaches to building your portfolio including:

• Do-it-yourself: You choose and manage your individual funds from the lineup available through your plan. Use the results from your Investor Profile to illustrate an asset allocation model. This model can help you determine what percentage of your assets to put in each asset class. Experienced investors may want to consider the self-directed brokerage option available through the Plan.
• Do-it-for-me: Provides you with a diversified portfolio that is rebalanced automatically to maintain a selected strategy. Asset Allocation Funds are a do-it-for-me option designed to provide diversification across several types of investment and asset classes, primarily by investing in underlying funds. The use of diversification and asset allocation as part of an overall investment strategy does not assure a profit or protect against loss in a declining market.

Get ready to enroll

Because the SRSP has eligibility restrictions, and contribution amount changes are not allowed, online enrollment is not available. To enroll, please talk with a Retirement Specialist.

Get the help you need

The sooner you enroll, the more you can possibly save. Call one of our Retirement Specialists to enroll today.