Arizona Public Safety Pension Taps New Administrator

640px-Entering_Arizona_on_I-10_Westbound

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 had been the interim director since administrator Jim Hacking was forced to retire last year.

Smout, 44, said Thursday that his goal as administrator is to have PSPRS be more transparent with the public. He also plans to actively work with lawmakers on improving the under-funded retirement system.

“We are strengthening our communications with our membership and the Legislature,” Smout said. “Pension reform will be a big issue this next session. We want to make sure everyone is on the same page.”

Smout, who lives in Fountain Hills, said it’s his goal to meet with every legislator, and he has barnstormed the state this year to have meetings on the pension system.

From a PSPRS press release:

During his tenure as deputy system administrator and acting system administrator, Smout has continued to oversee PSPRS’ nationally recognized investment strategy that seeks steady returns coupled with resistance to market volatility.

“I deeply appreciate the Board’s confidence in allowing me to continue in this role. I absolutely love my job and am grateful every day for the opportunity to serve those who serve this state,” Smout said. “We have a lot to be proud of and we will continue to improve the system, our relationships and our ability to deliver long-term pension stability.”

The risk-averse strategy implemented by PSPRS seeks to diversify assets and reduce exposure to publicly-traded equities, the greatest driver of market fluctuations.

[…]

PSPRS is expected to outperform more than 80 percent of 66 comparably sized pension trusts for fiscal year 2015, a year marked by low returns for trusts with stock-heavy portfolios.

PSPRS manages about $8.3 billion.

 

Photo credit: “Entering Arizona on I-10 Westbound” by Wing-Chi Poon – Own work. Licensed under CC BY-SA 2.5 via Wikimedia Commons – http://commons.wikimedia.org/wiki/File:Entering_Arizona_on_I-10_Westbound.jpg#mediaviewer/File:Entering_Arizona_on_I-10_Westbound.jpg

Share This Post

Recent Articles

Leave a Reply

Privacy Policy | © 2017 Pension360 and © 2014 Policy Data Institute | Site Admin · Entries RSS ·