March 15, 2019 - Executive Director Update: Week Number Nine of the Legislative Session

Joint Public Retirement & Social Security Committee (JRC)

On Monday, March 18th at 9:30 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 9:30 a.m. Look for the item “PUBLIC RETIREMENT & SOCIAL SECURITY PROGRAMS-JOINT” and click on the “video camera” icon.

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.

This week’s JRC agenda shows that 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.  This bill will NOT be heard in next week’s Joint Retirement Committee.  It will be heard on Monday, March 25th.

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 16,800 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 5,000 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 960 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

March 8, 2019 - Executive Director Update: Week Number Eight of the Legislative Session

On Monday, March 11th 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 10:00 a.m. Look for the item “PUBLIC RETIREMENT & SOCIAL SECURITY PROGRAMS-JOINT” and click on the “video camera” icon.

HB1320 (ATRS Technical and Minor Corrections) was passed out of the House and the Senate this week. It is on the Governor’s desk to sign. Thank you to Representative John Maddox for presenting this bill on the House floor this week. Thank you to Senator Bill Sample for presenting this bill on the Senate floor this week.

The good news this week is that it appears there will be no COLA adjustment legislation passed this session. Through many conversations with legislators and the leadership of the Joint Retirement Committee 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 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.

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. This bill will NOT be heard in next week’s Joint Retirement Committee. This bill still needs to have an actuarial cost study performed before it can be presented.

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 16,800 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 5,000 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 960 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

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