tag:blogger.com,1999:blog-7609353726565000072.post7681592597152125996..comments2023-06-14T02:29:40.319-07:00Comments on PSPRS Pension Watch: What PSPRS can learn from the Arizona State Retirement System (ASRS)Drop Zonehttp://www.blogger.com/profile/07195030344305212432noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-7609353726565000072.post-30450811749830592202014-12-28T21:28:06.246-07:002014-12-28T21:28:06.246-07:00Thank you for your comment. I compared the actuar...Thank you for your comment. I compared the actuarial reports from fiscal year 2013 and fiscal year 2014. The number of active, non-DROP members in PSPRS increased from 18,436 to 18,526 for a total of 90 new active, non-DROP members. This is the good news. However, the bad news is that retirees, beneficiaries, and DROP members increased from 11,641 to 12,083 for a total of 442 new retirees, beneficiaries, and DROP members.<br /><br />For some perspective, the fiscal year 2008 actuarial report shows 19.912 active. non-DROP members versus 9,422 retirees, beneficiaries, and DROP members. This was the high water mark for PSPRS in terms of active positions and coincides with the time just before the Great Recession. <br /><br />So from 6/30/08 to 6/30/14 we have 1,386 fewer active members paying into the pension but 2,661 more retirees, beneficiaries, and DROP members drawing from the pension. Now we find ourselves in the unfortunate conundrum where we need more members to help lower pension costs, but employers can not hire more members because their pension costs are so high. And what will happen if we have another financial crisis? Thanks again for your comment.Drop Zonehttps://www.blogger.com/profile/07195030344305212432noreply@blogger.comtag:blogger.com,1999:blog-7609353726565000072.post-53297272782376837052014-12-28T16:38:33.665-07:002014-12-28T16:38:33.665-07:00The article by Craig Harris that you reference men...The article by Craig Harris that you reference mentions that the number of employees paying into ASRS increased by 500+. That helps. Do you know if PSPRS membership is increasing? It seems unlikely as our ranks are still shrinking or stagnating at best. The article also mentions the number of ASRS members that are active and those retired. Those numbers for PSPRS would be enlightening as well. Anonymousnoreply@blogger.com