A recent third-party study shows that the Arizona State Retirement System (ASRS) provides top-level service to our members at very low costs when compared to pension plans both from the United States and across the globe.
The ASRS accomplished this high level of customer service at a cost that is 41 percent less than our peer-average cost. In fact, the ASRS has actually driven its administration cost-per-member down by two percent per year from 2016 to 2023.
The study was conducted by a company called CEM Benchmarking, which analyzes pension data from public pension plans across the US and around the globe. The ASRS is then compared with like-sized plans (peers) as well as all plans (the universe).
For the 2023 analysis, the ASRS scored 91 out of a possible 100 in service, compared to the peer average of 79 and the universe average of 77. The ASRS ranked at the top in service level in both the peer group and the global universe.
Service measurements take into consideration such things as turnaround times for member requests, availability and choices of services, website functions, promptness of depositing monthly retirement checks, and call center efficiency.
For the cost section, the ASRS had a cost of $68, compared to the average costs of our peers of $116, and the universe at $136.
ASRS Executive Director Paul Matson stated that “Top-level service with an extremely low cost structure are strategic initiatives for us. We are so very proud of achieving these benchmarks.”
To learn more about the ASRS and these rankings, visit www.AzASRS.gov and our How The ASRS Ranks webpage.
The ASRS is a state agency that manages a pension plan, disability plan, retiree health insurance programs, and supplemental savings plans for employees of school districts, charter schools, municipalities, special districts, counties, and the state.
The ASRS employs approximately 220 individuals and manages approximately $55 billion in investments.
