July 1, 2020 - Executive Director Update: Another Fiscal Year End

Another Fiscal Year End

Yesterday marked the end of fiscal year 2019-2020 and what a year it has been! ATRS has just completed another retirement season preparing for our July 1 retirees and T-DROP participants. For the most part, the same number of retirees and T-DROP participants reached this mile-stone in their careers as last year.

As always, I hope this update finds all of our ATRS members and their families safe and healthy during the current public health crisis. Most of the ATRS staff has returned to work on-site at the ATRS building. We are striving to have a safe work place. Therefore, each staff member goes through a health screening before entering the building. Face-coverings and social distancing are utilized inside the building. The increased cleaning and sanitizing protocols are still in place in the ATRS building. The health and well-being of our members and employees is of the utmost importance. Therefore, we ask that you continue to call or email the ATRS counselors to schedule telephone sessions. You also may visit the ATRS building lobby to drop-off paperwork.

ATRS Investments

Global stock markets continue to experience significant volatility as concerns over COVID-19 persist. While markets have shown resiliency, it is possible that market volatility could continue as the ultimate impact of the virus is determined.

The ATRS investment portfolio also experienced recent declines and volatility with the global stock markets. However, it is important to note that the ATRS portfolio is well diversified across multiple asset classes and designed to weather stock market volatility.

As the latest crisis continues to unfold, ATRS is mindful of the volatility within the markets and in communication with various market participants to evaluate developments. It is likely that until there is more clarity, there will be more volatile times ahead. However, the primary mission and focus of ATRS is to remain actuarially sound and pay member benefits by investing ATRS assets in a manner to earn the 7.5% actuarial assumed rate of return over a long-term horizon. The current estimated rate of return for the ATRS fiscal year ending June 30, 2020 is -3%. While this estimate will change as investment valuations are finalized, it is well below the actuarial assumed rate of return for this one-year period.

We want to emphasize to all our members that your ATRS benefits are secure. ATRS is a long-term investor and the ATRS Board has structured a well-diversified investment portfolio with the ability to withstand market volatility. The ATRS Board remains committed to managing the System’s assets in a prudent manner that will ensure the viability of your pension. The ATRS Board makes decisions in terms of decades, not days, weeks, or months.

Pandemic Scams

Along with the uncertainty resulting from the COVID-19 pandemic, the Federal Trade Commission (FTC) has issued warnings regarding large-scale scams involving fraudulent activity related to unemployment claims. Unfortunately, this scam has begun impacting members within our own community. Bad actors are filing for unemployment benefits using the names and personal information of individuals who have not filed a claim. (https://www.consumer.ftc.gov/blog/2020/06/scammer-getting-unemployment-benefits-your-name). We ask that you remain vigilant in your efforts to report any suspicious activity related to unemployment claims. If you are an HR manager or administrator for an ATRS employer, please contact ATRS at 501-682-1517 to report any unemployment scam information. We will work to get that information reported appropriately.

If you receive a letter in the mail for unemployment benefits and you did not file for unemployment, or if you suspect someone has fraudulently filed for benefits using your name, please file a report with the Arkansas Division of Workforce Services (ADWS):

To report a fraudulent claim to ADWS use one of the following methods:

• Use the secure fraud reporting form at: https://www.dws.arkansas.gov/unemployment/reporting-ui-fraud/
• Send an email to ADWS.InternalAudit@arkansas.gov
• Call 501-682-1058.

All reports received will be investigated regardless of how much information is provided. However, the more details you can provide, the more you will aid in the investigation. The account associated with the report will be frozen. If any payments were made, they will not be recognized as income to you for tax purposes. In addition, the fraudulent claim will not impact your ability to collect unemployment should you need to in the future and no charges will be assessed to your employer.

Given the nation-wide scope of this unemployment scam, it is always a good idea to review your bank or credit card statements and immediately inform your bank if you notice any suspicious activity. You can also visit the Federal Trade Commission’s website, www.identitytheft.gov, for more information on protecting your identity.

Stay in Touch with ATRS and View YOUR Account Information

The ATRS website allows members to have direct access to specific member account information. Now, approximately 22,000 members have direct account access to individualized account information. Here is the link to the instructions to sign up: www.artrs.gov/registration.

You can also sign up to obtain these executive director updates through your private email address. Updates are made throughout the year such as at retirement season and other times when information needs to be shared. Now, over 24,200 people have signed up to receive this executive director update by direct email delivery. It is always a great pleasure for ATRS staff to learn of more ways to provide information to ATRS members, employers, beneficiaries, government officials, and the public. The ATRS Board is committed to providing a system that is member friendly and transparent. Remember that ATRS is here to serve you.

Best regards,

Clint Rhoden
Executive Director ATRS
Office: (501) 588-4367
Mobile: (501) 291-1623
clintr@artrs.gov

June 23, 2020: 2020-21 Employer Information

Recently, ATRS sent out our yearly Employer Information booklet to all employers. It is filled with useful information regarding the 2020-21 ATRS rates, updates to our system, and instructions on various topics. To download the 2020-21 Employer Information booklet, please CLICK HERE.