• A pre-tax and after-tax way to invest for retirement. Withdrawals are taxed as ordinary income
• The 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 Assets rolled over from a qualified plan or individual retirement account may be subject to a 10% penalty tax if withdrawn prior to age 59½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 Nationwide® Plan Service Representatives up to and throughout retirement

To be eligible to participate in the ASRS 401(a) Supplemental Retirement Savings Plan, 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 are hired or reach your eligibility age, you have a two-year window within which to make a contribution election. Although contributions are voluntary, once you make your election, it cannot be changed or stopped throughout the duration of your career with the State
• You may make a one-time, irrevocable election to contribute a percentage of your pay from 1–25%, or an escalating percentage based upon your years of service, to the Plan, up to the maximum annual limit allowed under the Internal Revenue Code
• These are pre-tax contributions but since they are voluntary, they are not FICA-exempt
• Distributions made prior to 59½ may be subject to a 10% tax penalty. All taxable distributions at any age are subject to ordinary income tax, and surrender charges may apply