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Latest ASRS Updates

  • New administrator selected to oversee ASRS LTD program

    August 25, 2016

    Broadspire Services Inc., a leading third-party administrator, will replace Sedgwick as administrtor of the ASRS Long Term Disability Program effective September 1.

    The change should have no major impact for the more than 4,000 members currently on the ASRS LTD plan. A letter from Broadspire is being mailed to all current members receiving Long Term Dsiability benefits.

    LTD members may contact Sedgwick with questions about their coverage through Aug. 31. All contact from Sept. 1 forward should be directed to Broadspire.

  • New fiscal year, new contribution rates

    July 6, 2016

    New contribution rates for members and employers are set to take effect with July payrolls.

    The total contribution rate for the defined benefit plan, health insurance supplement and long term disability plan will be 11.48 percent for both employer and employee, up just slightly from the rate of 11.47 percent for last fiscal year, which ended June 30.

    The new rate will be in effect through June 30, 2017. See Contribution Rates for more information.

  • Final Legislative Updates from the 52nd Legislature, Second Regular Session

    July 6, 2016

    The 52nd Legislature – Second Regular Session adjourned on May 7. The effective date for legislation signed into law is August 6, 2016, unless otherwise noted. The following bills related to the Arizona State Retirement System have been passed by the legislature and signed into law by the Governor.

  • Notice Regarding ASRS-sponsored Meetings

    July 6, 2016

    The ASRS conducts educational meetings for its members which are facilitated by ASRS staff. Be advised that private companies and/or financial planners may also publicize their own meetings about retirement preparation, the ASRS and/or Social Security. The ASRS is NOT affiliated with any such meetings and is not responsible for these private solicitations. The ASRS does not make its members' personal information available to private organizations and we strongly caution all members and retirees against providing personal information to persons or organizations unknown to you.

  • ASRS Funding Policy available for review

    July 6, 2016

    An ASRS Funding Policy, a formal document outlining the strategies and goals for assuring the long-term sustainability of the ASRS plans, is now available for review under the ASRS Policies page on our website.

    The six-page document outlines the formal methodology for financing the pension, health insurance and long-term disability plan obligations. Each plan is sustainable with current assets, plus future contributions from employees and employers, plus investment earnings.

  • Office of the Auditor General report on ASRS available for review

    July 6, 2016

    The state Office of the Auditor General recently conducted a Performance Audit and Sunset Review of the Arizona State Retirement System (ASRS), a review that takes place every 10 years for state agencies. These audits are designed to determine whether an agency is achieving the objectives established by the Legislature and whether it is managing its resources in an effective, economical, and efficient manner. The report states although the ASRS plan is not fully funded, steps have been taken to improve its long-term sustainability.The report also noted that the ASRS serves an important function in Arizona. The full report, a summary report and the ASRS response are all available for public review on the Office of the Auditor General’s website – www.azauditor.gov

  • Karl Polen named Chief Investment Officer

    July 6, 2016

    Karl Polen, head of private markets in the ASRS Investment Division, has been appointed Chief Investment Officer of the ASRS by Director Paul Matson, effective March 1.

    Mr. Polen, who has been with the ASRS since September 2010, replaces Gary Dokes, who departed February 29 to accept a position as the first Chief Investment Officer for the Arizona Community Foundation, a state-wide charitable organization.

  • ASRS recognized for professional standards

    May 19, 2016

    The ASRS has been awarded the Public Pension Standards Award for 2015 from the Public Pension Coordinating Council. The award recognizes the ASRS for “meeting professional standards for plan funding and administration.”

    The standards as set forth by the PPCC cover such areas as benefits, funded status, plan valuation, investment policies and member communications. It is the 11th consecutive year the ASRS has received this prestigious award.

  • Chief Investment Officer to take new position at local charity

    May 19, 2016

    Gary Dokes, Chief Investment Officer (CIO) at the Arizona State Retirement System (ASRS), has accepted a newly created position as CIO at the Arizona Community Foundation, a state-wide charitable organization. As such, Mr. Dokes’ last day with the ASRS will be Feb. 29.

  • Contribution rates set for next fiscal year

    May 19, 2016

    At its December 4 meeting, the ASRS Board of Trustees accepted valuations for the various ASRS program plans and approved new contribution rates for the Defined Benefit Plan for fiscal year 2016-17, which take effect July 1, 2016.

    Despite a down year of market returns, the total contribution rate for the defined benefit plan, health insurance supplement and long term disability plan will be 11.48 percent for both employer and employee, up just slightly from the current rate of 11.47 percent.

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