news

ASRS Scores High in Service, Efficiency

Unless you happen to be very familiar with pension systems, you probably haven’t heard of the company CEM Benchmarking before. But, for the ASRS, they’re a valuable resource that provides helpful data to evaluate both where we’re at and how best to move forward.

An Investment Update by the Director

At the end of each fiscal year (June 30), the ASRS calculates a year-end rate of return on the total fund. The return for June 30, 2017 was 13.9 percent, positively impacting the financial health of the pension fund and helping to reduce upward pressure on future contribution rates.

How Do You Want Your Money When You Retire?

Retiring is easy. Just pick one of seven annuity options available and you’re done.

You may be saying to yourself “Wait. I have to figure out seven different options? What’s the difference between them? Which is the right one for me and my family?” A good way to grasp the different options is to note that while there may be seven options, they fall into one of three categories:

A Brief History of the ASRS As We Turn 65!

This year, the ASRS will celebrate its 65th Anniversary.

In the 21^st session of the Arizona State Legislature, Governor Howard Pyle signed the bill that created the ASRS as of July 1^st, 1953 as a pension plan for employees of state and municipal government.

The first public pension in Arizona, however, was issued in 1912, the year Arizona entered statehood. It was granted to a teacher, in the amount of $50 a month ($600 a year). In 1955, the teacher’s pension plan and the ASRS merged, creating a statewide retirement system.

Notice of Substantive Policy Statement on Compensation Rules

The Arizona State Retirement System has published a Substantive Policy Statement relating to Compensation for ASRS Purposes.

ASRS Celebrates 65 Years of Supporting Arizona's Public Servants

The Arizona State Retirement System (ASRS) marks its 65^th anniversary this year--celebrate 65 years of serving Arizona’s hard-working public servants.

ASRS Legislation for 2018

The 53rd Legislature – Second Regular Session is underway.

The ASRS has introduced four bills this session, all relatively minor in terms of impact to members and retirees.

House Bill 2034 - Amend 38-701(6) to remove the ASRS as state agency responsible for Social Security administration.

New Trustees appointed to ASRS Board

Eight individuals have been appointed or reappointed to the Arizona State Retirement System (ASRS) Board of Trustees. Appointments are made by the Governor and confirmed by the State Senate.

Previously serving appointees are: Tom Manos, former County Manager of Maricopa County; Kevin McCarthy, president of the Arizona Tax Research Association, and Clark Partridge, State Comptroller with the Arizona Department of Administration.

Ruling changes ASRS compensation definition regarding employer-paid deferred comp payments

On March 23, 2017, in the case of Wade and Paddock v. ASRS (No. CV-16-0087-PR), the Arizona Supreme Court held that employer-paid contributions on behalf of an employee to a tax qualified deferred compensation plan – such as a 457 or 401(k) – are compensation and therefore require ASRS contributions.

Employee-paid contributions into these plans have always been considered compensation for ASRS purposes. This ruling adds employer-paid contributions are compensation as well.

ASRS Legislative News

The 53rd Legislature – First Regular Session, adjourned on May 10, 2017. The Arizona State Retirement System had five legislative initiatives pass into law. They all have relatively minor impact to members and retirees, mainly clarifying language in existing state statutes.

Below is a brief summary. You can also follow these and other retirement-related bills throughout the legislative session on our ASRS Bill Tracker.