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Arizona State Retirement System

Arizona State Retirement System. Government Finance Officers Association of Arizona Summer Training. August 7, 2013. Discussion Topics. ASRS Financial Health 2013 ASRS Legislative Initiatives HB 2294: Public pension; court commissioners. ASRS Investment Returns (as of June 30, 2012).

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Arizona State Retirement System

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  1. Arizona State Retirement System Government Finance Officers Association of Arizona Summer Training August 7, 2013

  2. Discussion Topics • ASRS Financial Health • 2013 ASRS Legislative Initiatives • HB 2294: Public pension; court commissioners

  3. ASRS Investment Returns(as of June 30, 2012)

  4. ASRS Investment Returns

  5. ASRS Investment Asset Allocation Green: Denotes asset classes typically absent from DC investment options.

  6. Distribution of ASRS Pensionsas of June 30, 2012 Average Pension $19,568.00

  7. Defined Benefit Plan

  8. ASRS Contribution Rates

  9. 2013 Legislative Initiatives • Administration • Federal Conforming Changes – increases the annual limit of retirement benefits; non-portability of normal retirement benefits; termination or partial termination of fund would cause full vesting • Amortization Period • Member Identity Security – identifies what data the ASRS will release and what data won’t be released • Health Insurance • ASRS Self-insurance – adding language to allow the ASRS to self-insure • Plan Design • Eliminate PBI for new member • Survivor Benefits • Non-retired survivor benefit redesign – simplify the non-retired survivor benefit calculation by eliminating the PV option and allowing a straight life annuity only

  10. HB 2294: Public pensions; court commissioners • Removes language requiring certain full-time superior court commissioners to be ASRS members and reestablishes their eligibility for EORP

  11. ? ? ? ? ? Questions? ? ? ?

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