March 29, 2019 - Executive Director Update: Week Number Eleven of the Legislative Session

Joint Public Retirement & Social Security Committee (JRC)

On Monday, April 1st at 9:00 a.m. the Joint Public Retirement Committee (JRC) meeting will be video streamed over the Internet. Just visit the Arkansas Legislative Meetings and Events web page on Monday at 9:00 a.m. Look for the item “PUBLIC RETIREMENT & SOCIAL SECURITY PROGRAMS-JOINT” and click on the “video camera” icon.

The 2019 Legislative Session is in its final weeks. All of the bills in the ATRS sponsored package have been presented to the JRC and are law or have passed both chambers and are awaiting action by the Governor. The ATRS staff remains vigilant in monitoring any legislative changes that could affect the retirement systems of Arkansas.

HB1173, a.k.a. “The Stress Testing Bill”, was heard on Monday, March 25th. Sixteen (16) citizens signed up to speak against the bill and were allowed to speak after the committee discussed the merits of the bill. At the end of the presentation, the bill failed due to the lack of a “do pass” motion.

SB52 would permit the forfeiture of retirement benefits in the event a member of an Arkansas retirement system is convicted of a felony arising out of their official duties as a state employee. SB52 was also heard by the JRC on Monday, March 25th. The main problem with this bill is that it could possibly jeopardize the qualified federal tax status of the Arkansas retirement systems. This bill also failed due to the lack of a “do pass” motion.

There are also no bills that would change the cost of living adjustment (COLA) scheduled to be heard by the JRC.

Your voices and concerns about these bills have been heard by the JRC. We should continue to thank our legislators for their willingness to work with ATRS staff and the ATRS Board of Trustees in keeping our system strong while protecting the benefits of Arkansas educators.

For more information regarding the ATRS Bill Package and bills that may impact ATRS visit the Legislation page on our website.

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 17,000 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 20,000 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.

You can also get helpful ATRS information on the ATRS Facebook page under the name of Arkansas Teacher Retirement System.  Over 5,100 Facebook users get updates via the ATRS Facebook page.  Go to the Facebook page and "like" ATRS to get daily updates.  I try to go to the Facebook page every day to post information and answer member questions about ATRS.  In addition, if you use Twitter, you can join over 970 others by following events at ATRS and issues of interest on the ATRS Twitter page.  Remember that ATRS is here to serve you!  If you have questions, email me or call.

Best regards,

Clint Rhoden
Executive Director ATRS

mobile: (501) 291-1623
clintr@artrs.gov

March 22, 2019 - Executive Director Update: Week Number Ten of the Legislative Session

Joint Public Retirement & Social Security Committee (JRC)

On Monday, March 25th at 9:00 a.m. the Joint Public Retirement Committee (JRC) meeting will be video streamed over the Internet. Just visit the Arkansas Legislative Meetings and Events web page on Monday at 9:00 a.m. Look for the item “PUBLIC RETIREMENT & SOCIAL SECURITY PROGRAMS-JOINT” and click on the “video camera” icon.

The 2019 Legislative Session is in its final weeks. All of the ATRS sponsored legislation has been presented to the Joint Retirement Committee (JRC). The ATRS staff remains vigilant in monitoring any legislative changes that could affect the retirement systems of Arkansas.

HB1173, a.k.a. “The Stress Testing Bill”, is a special order of business for Monday, March 25th. HB1173 has been amended to change the stress test language into required financial risk analyses. This bill now requires the pension systems to follow generally accepted accounting procedures and actuarial standards of practice. However, the decision to have the ATRS actuaries perform needed risk analyses is something the ATRS Board already does in fulfilling their role as fiduciaries. ATRS believes this bill is simply not necessary and could result in additional costs for the Arkansas retirement systems.

There is still no indication that there will be any COLA adjustment legislation passed this session. Through many conversations with legislators and the leadership of the Joint Retirement Committee (JRC) it has been determined that no adjustments to the ATRS COLA are needed at this time. Your voices and concerns have been heard. We should continue to thank our legislators for their willingness to work with ATRS staff and the ATRS Board of Trustees in keeping our system strong while protecting the benefits of Arkansas educators.

It is a busy time for ATRS and its staff.  ATRS will try to keep its members informed about the bills that impact ATRS, its members and employers.  For more information regarding the ATRS Bill Package and bills that may impact ATRS visit the Legislation page on our website.

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 16,900 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 19,900 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.

You can also get helpful ATRS information on the ATRS Facebook page under the name of Arkansas Teacher Retirement System.  Over 5,100 Facebook users get updates via the ATRS Facebook page.  Go to the Facebook page and "like" ATRS to get daily updates.  I try to go to the Facebook page every day to post information and answer member questions about ATRS.  In addition, if you use Twitter, you can join over 970 others by following events at ATRS and issues of interest on the ATRS Twitter page.  Remember that ATRS is here to serve you!  If you have questions, email me or call.

Best regards,

Clint Rhoden
Executive Director ATRS

(501) 291-1623 Mobile
(501) 588-4367 Office
clintr@artrs.gov