RASL Payment Expectations:
As stated in the RASL literature, please communicate to retirees that the first RASL payment is generally available 60-90 days AFTER a qualified and complete application has been received by the GAO (not 60-90 days after retirement, as some retirees assume). With an unexpected surge in applications received during the summer months and since applications are processed in the order received, it is now taking closer to 90 days to fully process applications. Reinforcing this message will ensure all RASL applicants have the appropriate payment expectations.
Applicants retiring prior to October 25, 2015, who wish to utilize deferred compensation in 2015, must ensure their application is processed by their agency and sent to RASL as soon as possible and within 30 days of their termination in order to meet the December 31, 2015 IRS deferral deadline. If the application is not received in time, deferred compensation will not be possible in 2015. Applicants retiring on or after October 25, 2015 can defer in early 2016.
Note: The information below is a brief summary of the Retiree Accumulated Sick Leave program. Please refer to section II-R of the State of Arizona Accounting Manual and to A.R.S. §§ 38-615, 38-616 for complete program requirements.