Just a thought: what if ASRS (Arizona State Retirement System) loaned Arizona the money it needs with interest to assure we do not default? Would it be in the best interest of ASRS employees and retirees and or the general populous of Arizona? Or would it be better for the State to default?
ASRS has the money: would withdrawing a billion or two from investments hurt the market, the US economy?
Whose fault is it that the Legislator’s can’t address the States budget issues: the voters for passing constitutional amendments – resolutions; the Democrats under Napolitano that overspent by 60% rather then the normal 30%; the voting public asleep at the wheel; the Republicans over zealousness to reduce, reduce, reduce; term limits?
The vast majority of State employees are participants in the ASRS plan where they will receive a reasonable retirement for services rendered. They pay in more and receive less compared to the other 3 plans. Judge for yourself by reviewing the following links. Remember, ASRS employees receive less to equal retirement pensions compared to the private sector, union or non-union. The other three plans are out of control.
Take note of legislation enacted to address ASRS fund issues over the past 8 years.
ASRS Information on Republic Series
(Arizona State Retirement System)
Understanding Arizona’s Public Employee Retirement Plans
(Arizona Chamber Foundation)
Posted: Sunday, November 14, 2010
Updated: Monday, November 22, 2010
The Arizona State Retirement System and other Arizona public pension plans were the subject of a series of articles in The Arizona Republic newspaper November 14-20, 2010.
The ASRS would like to provide the following additional information on the various issues raised.
AP analysis: Economic stress falls to 18-month low (AP) – Dec 13, 2010