January 31, 2019 - Executive Director Update: Week Number Three of the Legislative Session

The first Joint Public Retirement Committee (JRC) meeting was held on Monday, January 28.  The committee heard briefings by the retirement systems' directors and legislative actuary.  No bills were heard during this first organizational meeting.  The committee room was “standing room only” as many engaged citizens attended to show their support for Arkansas’ pension systems.  As a result of the large attendance on Monday, next Monday’s JRC meeting will be held in the largest available room located in the Big Mac Building (Room A) at 10:00 a.m.  At this meeting we will hear a general pension system presentation from the legislative actuary.  The 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. 

The biggest concern I have heard from the ATRS members the past couple of weeks is, of course, the threat to retirees’ cost of living adjustment (COLA).  Back in 2016, ATRS was faced with some harsh actuarial facts: that our retirees were living longer, and that our assumed rate of return on investments needed to be lowered.  As a result, ATRS had to make some hard decisions on how to make responsible cuts to bring the projected unfunded liabilities back to a responsible level.  Those member benefit adjustments were made and we have started to see improvements to our actuarial status.  From June 2017 to June 2018, ATRS has gone from 79% funded to 80% funded, the amortization period of the unfunded projected liability decreased from 29 years to 28 years, and the actuarial value of assets increased from $16.1 billion to $16.7 billion.  These numbers indicate that ATRS is in good shape.  The 2017 member adjustments are working and should be allowed to continue to work.  It is ATRS’ position that no legislation related to the adjustment of the ATRS COLA is needed at this time.

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 16,400 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 19,600 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 4,800 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 940 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

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

January 25, 2019 - Executive Director Update: Week Number Two of the Legislative Session

Joint Public Retirement & Social Security Committee

The first Public Retirement Committee meeting will be held on Monday, January 28, 2019.  This meeting will be an organizational meeting which will include briefings by the retirement systems' directors and committee actuary.  No bills are expected to be heard during this first organizational meeting.

The Capitol is full of activity as the session gears up to full power. 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 14,000 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 16,400 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 4,500 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 920 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

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