The ASRS is finalizing a new strategic plan covering the five-year period from July 1, 2023, to June 30, 2028. The key areas of the strategic plan focus on our Mission, Vision, Goals, and Objectives, which will drive our various organizational activities, strategies, and resource allocation decisions. Throughout the development process, we have focused on what is in the best interest of our active, inactive, and retired members – often driven by what we have heard from our members through surveys, direct contact, as well as independent research.
The broad areas we want to excel at are:
- • Customer Service
- • Investment Performance
- • Risk Management
- • Cost Effectiveness
- • Organizational Sustainability and Governance
The process for developing our new strategic plan included a number of focused sessions with staff, as well as an initial focused discussion with the Board of Trustees. A draft version of the strategic plan will be presented to the Board of Trustees for final input and potential approval.
The development of our strategic plan has been a collaborative effort, and we expect the result will be a plan that has strategies and actions that continue to drive the agency forward in serving our members.
Another outcome of this process is the development of a concise Value Proposition to help our newer members understand the following benefits that are provided for them:
- • A secure lifetime pension
- • A retiree health insurance program, with a health insurance benefit to help offset costs for qualified retirees.
- • A long term disability program for active employees
- • Optional supplemental savings plans for active members
Independent surveys already show that our members and employers have a high level of trust in the ASRS, and a separate independent analysis quantifies how the ASRS currently provides top-tier member services at a very low cost compared to our pension plan peers. Nonetheless, a solid strategic plan with sound, forward-looking goals and implementation strategies will enable us to reach further and faster in the next phase of our service delivery model.
Once the strategic plan has been finalized, we will post it promptly to our website.
I hope this summary of our strategic planning process provides some insight into the ASRS, as well as the importance our agency places on the quality of services that we provide, and also affords you some comfort knowing that your benefits and safe, secure, and sustainable.
Paul Matson, ASRS Executive Director
