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ASRS Budget & Cost Savings

ASRS Budget

The Arizona State Retirement System, charged with providing retirement plans and other benefits to qualified member employers, is a state agency and, in accordance with guidelines set forth by the Governor, develops, prepares and submits an annual budget request.

The one-year budget request for fiscal year (FY) 2021, which runs July 1, 2020 through June 30, 2021, is structured to provide only the essential resources required to achieve the purpose and mission of the agency. The FY 2020-21 appropriated budget request is in alignment with the strategic vision, goals and objectives encompassed in the ASRS Strategic Plan. By developing and implementing flexible and fiscally responsible budgets, the ASRS is able to support key agency objectives and priorities as well as reflect a commitment to achieving efficiencies through maximizing resources and constraining costs.

Funds for the ASRS budget come from the ASRS Trust Fund rather than general funds appropriated by the state.

 ASRS Budget Request - Fiscal Year 2020-21

ASRS Cost Savings Philosophy and Initiatives

The Arizona State Retirement System continues to exercise fiscal prudence, recognizing that dollars saved on administrative expenses are dollars that remain in the Trust Fund for the benefit of members.  A number of cost-saving initiatives have been implemented over the past several years, producing substantial savings. From modest projects such as reducing printing and mailing costs through expanded use of electronic mediums, to major savings realized through new and expanded online services, the ASRS strives to operate in the most cost-efficient environment.

The ASRS continues to review strategies and ideas that can produce further savings, making these and other initiatives a regular step in our budgeting process.

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