Every five years, the ASRS develops a new Strategic Plan. This plan is meant to identify key areas the agency wishes to enhance and optimize, as well as areas we’d like to monitor and maintain. Our newest plan, which began on July 1, 2023, will run until June 30, 2028.
The goal for our new strategic plan is to excel in the areas of:
- Customer Service
- Investment Performance
- Risk Management
- Cost Effectiveness
- Organizational Sustainability and Governance
To help us realize these goals, each is supported by a number of objectives, categorized as either a Strategic Objective or an Ongoing Objective. Strategic objectives are new areas of focus, while ongoing objectives are current areas of focus we feel need to be maintained to help achieve a particular goal.
For example, our goal of excelling in customer service currently has five strategic objectives and six ongoing objectives. These objectives range from fostering well-educated members to continuing timely and accurate payment processing, with each objective having specific measures and targets.
These objectives – and all objectives for all of our goals - were carefully identified, thought out, and vetted by a process that involved staff across the agency, as well as a round table discussion with our Board of Directors.
To learn more about our objectives and goals over the coming years, make sure to read through our new Strategic Plan.
Our previous strategic plan, which began in fiscal year 2018 and ended this past June 30, 2023, resulted in a number of successes. Among other things, we achieved key benchmarks in service and cost-effectiveness versus our peers, ranking third highest in service and eleventh lowest in cost. We also achieved investment returns in our 1, 3, and 5-year investment targets equal to or greater than relevant benchmarks, and we continued to foster trust and confidence with members and employers at a high level.
As we move forward, we strive to be just as successful with our new strategic plan – continually improving how we serve our members, employers, and the state.
