July 1, 2021 - Executive Director Update: Vacancy on ATRS Board, Applications Welcome

At the June 23, 2021 meeting of the ATRS Board of Trustees, a vacancy on the board was recognized. The position is Trustee Position #1 – Congressional District #1. The ATRS Board of Trustees has authority to appoint successor trustees by majority vote of the Board of Trustees. The ATRS Board voted on June 23, 2021 to take applications from qualified members to fill the vacancy by appointment. The ATRS Board intends to fill the Position #1 vacancy with an appointment through June 30, 2022. ATRS will hold a regular election for Position #1 in April 2022. The winner of the April election will serve in Position #1 until June 30, 2025.

To be eligible for Position #1, the candidate must be an active member with five or more years of service or a T-DROP member who is accruing monthly deposits. The candidate must be employed by an ATRS employer located in Arkansas congressional district #1. The candidate must be employed in a position requiring state teaching licensure or the equivalent under ATRS Rule 4.

 

 

Candidates must be employed by an ATRS employer located in Arkansas Congressional District #1 (shown in blue on the map above).

The Board has set a deadline of August 13, 2021 for applications of qualified members to be submitted to ATRS. The ATRS Board intends to take up the appointment at a meeting in August or September.

If you are interested in serving on the ATRS Board, then the ATRS Board welcomes your application. If you know of a qualified member who is interested in serving on the ATRS Board, then please share the attached application and content of this email with them.  The ATRS Board welcomes applications from all qualified members. Membership on the ATRS Board is a very important way to serve ATRS members and the State of Arkansas.

The ATRS Board and ATRS staff acknowledge the dedicated service of Robin Nichols on the ATRS Board. The ATRS Board and staff wish Ms. Nichols well in the future.

ATRS Employers in Congressional District #1: Please forward this executive director update email to all employees. ATRS wants to get this information to as many ATRS members employed in Congressional District #1 as possible.

If you have questions or need more information, please feel free to call me on my direct line at (501) 588-4367, my cell at (501) 291-1623 or email me at clintr@artrs.gov

Best regards,

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

Attachment: Trustee Position #1 Application Form

June 30, 2021 - Executive Director Update: Record Return for Fiscal Year

Today marks the end of fiscal year 2020-2021 with a record return on the ATRS investments! The estimated return on investments this year is 30%. This is the highest return seen in the 84 year history of ATRS. The current estimated value of ATRS assets is $21 billion.

As always, I hope this update finds all of our ATRS members and their families safe and healthy. The ATRS staff has returned to work on-site at the ATRS building. We are striving to have a safe work place as we adjust to more normal operations. Please call to schedule any in-person counseling sessions so that the counselors can plan for an efficient visit. You can also continue to schedule telephone or video counseling sessions. You may visit the ATRS building lobby anytime during business hours to drop-off paperwork.

In spite of the pandemic, ATRS did not see any significant increase in teacher retirements this year. For the fiscal year ending June 30, 2021 there has actually been a decrease in total retirees from prior years.

Here are the total retirees for the past 3 fiscal years:

July 1, 2018  through June 30, 2019 - 2,753

July 1, 2019  through June 30, 2020 - 2,672

July 1, 2020  through June 30, 2021 - 2,600

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.

ATRS Investments

The primary mission and focus of ATRS is to remain actuarially sound and pay life-time retirement 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, 2021 is 30%. This estimate will change as investment valuations are finalized. While this is an incredible return for the system, it is important to remember that it will be spread across four years during the calculation of the actuarial valuation. The four-year smoothing of this year’s great return will help offset the 5% and -1% returns ATRS experienced the two previous years.

While global stock markets continue to increase, it is possible that market volatility could continue. The ATRS investment portfolio also experienced recent increases 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. ATRS remains mindful of the volatility within the markets and is in communication with various market participants to evaluate developments. 

I 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 diversified investment portfolio. 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.

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 25,300 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 27,100 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