After a victory at a special election held on Tuesday, Arizona’s Proposition 124 will be taking effect on January 1, 2017. The proposition will cut public service pension benefits in order to hopefully bolster the public service pension trust, which has about half as much money as it currently needs. AZ Central has more on … Continue reading Proposition 124 to Change Arizona Pensions
Two Arizona judges are suing the state, seeking a refund for pension contributions they’ve made over the last four years. A 2011 law nearly doubled pension contribution rates for judges, who contend that the law was a breach of contract. If the Supreme Court rules in the judges’ favor, it could lead to a refund … Continue reading Arizona Judges’ Pension Lawsuit Hits State Supreme Court
The Arizona Public Safety Personnel Retirement System this week tapped a new leader: Jared Smout, who has worked at the fund for 18 years and was previously deputy system administrator and acting system administrator. More from the Arizona Republic: The Public Safety Personnel Retirement System Board on Wednesday promoted Smout in a 5-2 vote. He … Continue reading Arizona Public Safety Pension Taps New Administrator
The Arizona Public Safety Personnel Retirement System (PSPRS) concluded its months-long search for a new executive this week. The fund’s Board has selected Kevin Olineck to take over as administrator, according to the Arizona Republic. More on Olineck, from the Arizona Republic: Olineck is scheduled to assume his role with PSPRS in October, contingent upon … Continue reading Arizona Pension Nabs Canadian Administrator for Top Job
Arizona’s Public Safety Personnel Retirement System [PSPRS] was scolded in 2014 for racking up over a million dollars in outside legal bills related to investment advice and administration issues. But the spending has continued into 2015, and now the legal bills are expected to push the system 10 percent over its budget for this fiscal … Continue reading Outside Legal Expenses Strain Budget of Arizona Pension
The Arizona Public Safety Personnel Retirement System is searching for a new director, and the fund has reportedly narrowed the field to three candidates. The candidates, according to the Arizona Republic: – Jared Smout, acting administrator at PSPRS. Smout was the organization’s deputy administrator from September 2011 to July 2014, when he was promoted to … Continue reading Three Candidates Remain For Top Job at Arizona Public Safety Fund
Ryan Parham, chief investment officer of the Arizona Public Safety Personnel Retirement System (PSPRS), penned a piece in the Arizona Capitol Times on Thursday defending his fund against claims of being Arizona’s “worst-performing pension plan.” But Parham says the raw return numbers don’t tell the whole story. Here’s what Parham has to say: All too … Continue reading Arizona Pension CIO Counters Claims of Being States Worst-Performing System
The Arizona Public Safety Personnel Retirement System has been cleared of any wrongdoing as federal officials close an investigation into the fund’s real estate valuations. The U.S. Attorney’s Office and the FBI were investigating whether fund staff inflated real estate values to trigger bonuses. More from the Arizona Republic: “Based upon our joint investigation with … Continue reading Arizona Public-Safety Pension Cleared of Wrongdoing in Federal Criminal Investigation
This week, Arizona’s Department of Administration agreed to pay the legal tab of four ex-employees of the Public Safety Personnel Retirement System (PSPRS). The ex-employees are being sued by a real estate investment firm, Troon, for “defaming” the firm by raising questions about how it values assets. The employees quit PSPRS last year in protest … Continue reading Viewpoint: Arizona’s Pension Whistle-Blowers Deserve State Protection
Four ex-employees of the Arizona Public Safety Personnel Retirement System are being sued by a real estate investment firm for “defaming” the firm by raising questions about how it values assets. The lawsuit is private, but the legal costs incurred defending the ex-employees will be paid with public money, according to the Arizona Republic: The … Continue reading Arizona Taxpayers To Foot Legal Bills For 4 Ex-Pension Employees
