Retirement Road SignJim Hacking, Administrator of the Public Safety Personnel Retirement System (PSPRS), attended AHPA’s November 2012 meeting.  Mr. Hacking presented the following reports:

Public Safety and Corrections Officer Local Board Secretaries and Finance Departments 2012 Actuary Reports

FY 2012 Financial Report

2012 System Consolidated Reports

2012 Actuarial Reports By Employer

From the links above, members can see that the PSPRS fund has fallen to a 58.4% sustainability rate as of June 30, 2012 (design note: insert graphic here).  Generally, the fund lost money over the years due to excessive legal fees, lack of hiring new officers, bad investments into technology stocks and the stock market volatility during 2008-2009.  In 2012 and 2013, the retirement system is still feeling the after-effects.

AHPA encourages all members to view the status of your retirement system.  The association will be monitoring any possible legislation impacting PSPRS, CORP and ASRS.  With the fund’s current status, public safety personnel could see more attempts at “pension reform” from the new legislature.

AHPA looks forward to hearing more from youOUR MEMBER.  Remember, members can ALWAYS send in feedback anonymously, speak with your district AHPA representative or write by email to ahpa@ahpa.com.  All responses are shared with the AHPA Executive Board and action discussion takes place during our monthly meetings.  AHPA also encourages members to attend our monthly meetings.  Our next meeting is on December 19th, 2012 at the Phoenix Mountain Preserve Reception Center.

Shares
Share This