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2022 PFFA Statewide Endorsements

News

The PFFA has released their Statewide Endorsement list.  To view the endorsements please click on the pictures below.

by Don Jongewaard
https://www.pffaz.org/wp-content/uploads/2022/01/logo-80x80-1.png 80 80 Don Jongewaard /wp-content/uploads/2021/01/pffaz-logo.png Don Jongewaard2022-07-08 13:00:552022-07-08 13:51:332022 PFFA Statewide Endorsements

PSPRS POSTS RECORD INVESTMENT EARNINGS FOR FY2021; PORTFOLIO NOW EXCEEDS $15 BILLION

Members, misc, News, Retiree News
In a previous newsletter, we highlighted the exemplary financial performance of PSPRS last year. Now the pension system is earning national recognition as one of the fastest-growing large pension funds in the United States, according to the Pensions & Investments annual 1,000 Largest Retirement Plans report.
The publication’s data and reporting noted that the combined PSPRS-plan pension trust and defined contribution plan assets under management grew at a rate of 44 percent to reach $16.1 billion last fiscal year. That growth by percentage exceeded that of all public pensions in the top 200 of the largest 1,000 U.S. retirement plans surveyed by the media outlet.
The PSPRS increase was second among the largest 200 plans tracked by Pensions & Investments, behind only the defined contribution plan maintained by Microsoft, the multi-trillion dollar software development corporation. PSPRS is now ranked as the 175th largest U.S. retirement plan, up from its previous position of 217.
“The growth of PSPRS assets is inspiring, and the credit belongs to the employers and policymakers throughout the state who are paying down their pension debts to save taxpayers money and secure the retirement benefits for their first responders and corrections officers,” said PSPRS Administrator Mike Townsend in a press release. “We’re thrilled to recognize their achievement and to acknowledge the work of our outstanding investment team and to continue the great progress of our entire team as we work on behalf of Arizona.”
In the fiscal year ending June 30, 2021, PSPRS net of fee investment returns generated a record-setting 27.8 percent return to produce $3.1 billion of growth. During the same year, public safety and corrections employers contributed $1.58 billion towards paying down unfunded pension debts. The payments were made in addition to annually required contributions.
The combined impact helped PSPRS reduce its system-wide unfunded pension debt to $10.9 billion from its previous total of $12.5 billion. All three pension plans managed by PSPRS for public safety, corrections officers, elected officials, and members of the judiciary improved their funded status in fiscal year 2021.
“As an actuary, in my 20-plus years of practice, I’ve never seen a plan make this much progress in 12 months,” said Brad Heinrichs of Foster & Foster Consulting, which PSPRS contracts with for actuarial services. “It’s really been remarkable and the conservative policies adopted by the PSPRS Board of Trustees will add to the long-term savings and improve the system’s financial health for its membership.”
In fiscal year 2021, PSPRS staff consulted with more than 100 employers about pension expenses, reforms and cost-savings opportunities. Over the course of the year, 49 employers contributed $1 million or more towards their unfunded pension debt.
“The PSPRS Board of Trustees set out to help educate employers about pension financing and end the era of ever-escalating pension costs,” said Board of Trustees Chairman Scott McCarty. “The results achieved in the past fiscal year mark the next chapter of significant improvements for PSPRS.”
by Don Jongewaard
https://www.pffaz.org/wp-content/uploads/2022/01/logo-80x80-1.png 80 80 Don Jongewaard /wp-content/uploads/2021/01/pffaz-logo.png Don Jongewaard2022-03-22 07:22:562022-03-22 07:24:09PSPRS POSTS RECORD INVESTMENT EARNINGS FOR FY2021; PORTFOLIO NOW EXCEEDS $15 BILLION

Arizona Fire District Safety Act Takes Big Step Forward; Measure Would Raise $150 Million Annually for Districts

Members, News, Political Action, Retiree News
Brothers and Sisters:
Monday, March 21st was a big legislative win for Arizona’s fire fighters and for the state’s 144 fire districts. SCR 1049, the Arizona Fire District Safety Act, took a major step forward when the bill passed out of the state House Lands, Agriculture and Rural Affairs Committee as a strike-everything amendment. This measure is the PFFA’s top priority this year and we owe enormous gratitude — once again — Sen. Paul Boyer, who again showed that no lawmaker in this state can match his commitment to public safety and to keeping fire fighters safe.
While there are more steps in the legislative process, including the need to pass a floor vote in the House, we are one step closer to getting this measure on the November ballot for voters to decide.
This temporary tenth-of-a-penny increase in the state’s sales tax will generate about $150 million annually for the state’s fire districts. These increased resources will take the pressure off our fire fighters and paramedics, and help ensure they have the equipment and training they need to provide fire, emergency and medical services to residents and travelers. As most of you already know, many of the state’s fire districts are strapped for funding and short of manpower, equipment and training.
To put the measure in financial perspective, if you spend $10 on lunch, the Arizona Fire District Safety Act would cost you a penny.
We will have more updates to come on this bill and the accompanying campaign.
by Don Jongewaard
https://www.pffaz.org/wp-content/uploads/2022/01/logo-80x80-1.png 80 80 Don Jongewaard /wp-content/uploads/2021/01/pffaz-logo.png Don Jongewaard2022-03-22 07:21:192022-03-22 07:21:19Arizona Fire District Safety Act Takes Big Step Forward; Measure Would Raise $150 Million Annually for Districts

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Email: Crystal Allman at [email protected]

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