Public school educators know more than just about anyone what it means to do more with less. To be resourceful and creative in getting things done with minimal resources.
From finding materials to be donated, to reusing and recycling supplies, to buying things out of their own pockets, our teachers and school employees do whatever it takes to educate our children.
At ATRS, we have long operated under that exact mindset. We run a lean, efficient operation that uses the minimum amount of resources, so that we preserve as much of our assets as possible for member benefits. Everything we do is funded entirely by our own operations, we don’t receive a dime of general revenue funding from the state.
You might be surprised how our operations stack up to other financial institutions. Today, ATRS manages an investment portfolio of more than $25 billion for more than 140,000 members. To put that in perspective, two major, household-name financial institutions here in Arkansas – Simmons Bank and Stephens, Inc. – both manage roughly the same amount of assets as ATRS.
But there is a massive difference in how we run our operations.
To manage their corporate footprints, commercial lending, and retail branches, an institution like Simmons Bank utilizes more than 2,700 employees. A national money manager like Stephens employs more than 1,300 people.
Your retirement system? The Arkansas Legislature allows ATRS only 87 positions. And as of July 1, we are operating with an internal administrative staff of just 73 full-time employees.
With 73 of us serving 67,871 active educators and public school employees, our system operates at a ratio of one internal staff member for every 930 active members. Across the country, mid-sized public pension systems typically operate with larger teams, averaging one employee for every 500 to 1,000 members.
How do we do it? ATRS has a highly dedicated, cross-trained internal staff who routinely wear multiple hats to get the job done. We adapt and adjust and prioritize to ensure the most critical things get done.
Operating this lean is a badge of honor, but frankly it also creates risk. With such a small staff, losing even one person can create bottlenecks and backlogs for entire work units. When a team is this small, there is no margin for error.
As a state government agency, we are faced with many obstacles and hurdles that keep us from hiring new employees and filling vacant positions. Our current pace is a testament to the grit of our 73 staff members. But it is not a sustainable way to guarantee the level of customer service and modern cybersecurity protection you deserve. That is why we will be asking the Legislature to create a few new positions and seeking more flexibility in filling the ones we already have.
We have proven we can do more with less. Now, it’s time to ensure we can continue doing it right.
Even with these changes, ATRS will remain a lean, fiscally conservative retirement system, a system committed to providing retirement security for Arkansas’s past, present, and future public education professionals.
You have spent your career working hard for our state's future. My promise to you is that our team will keep working just as hard to secure yours—responsibly, efficiently, and safely.
Cost of Living Adjustment
July means an increase in your retirement benefit, thanks to the 3% cost-of-living adjustment (COLA). Every year, effective July 1, ATRS provides a 3% COLA for members who have been retired for at least 12 months. The 3% increase is what is known as a “simple” increase, because it is calculated as 3% of your base amount – your original retirement benefit calculation when you first retired.
You will see the increased benefit amount in your check for July, which should go out July 15. After you receive your July payment, if anything appears to be off, please let us know.
If you have an issue with your deposit amount, or any other questions about your retirement options, please call us at (501) 682-1517 or email us at info@artrs.gov.
Mark White
Executive Director, ATRS
MarkW@artrs.gov
Office: (501) 621-8853
Cell: (501) 541-2057