tag:blogger.com,1999:blog-7609353726565000072.post8957740294036063849..comments2023-06-14T02:29:40.319-07:00Comments on PSPRS Pension Watch: Meet the new PSPRS boss, same as the old PSPRS bossDrop Zonehttp://www.blogger.com/profile/07195030344305212432noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-7609353726565000072.post-43750699785457563972015-09-02T10:14:07.237-07:002015-09-02T10:14:07.237-07:00PSPRS has to administer the plans according to the...PSPRS has to administer the plans according to the Arizona Revised Statutes, as does ASRS. Those statutes have required PSPRS to pay out permanent benefit increases almost every year of 4%, and to sweep half of all returns over 9% into a reserve for future increases. This serves to increase liabilities even when the return does not exceed 9%. The statutes allow ASRS to have not paid a benefit increase in 10 years, and retain all returns to strengthen the funding status. Paul Matson is very good at his job, but he does get a little bit of help from more favorable statutes. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7609353726565000072.post-87250788018330094982015-09-01T13:10:11.773-07:002015-09-01T13:10:11.773-07:00Could it be that nobody else wanted a job where th...Could it be that nobody else wanted a job where their objective was to obtain not just market gains above 7%, but returns precisely between 7% and 9%, and not above? It's hard enough to make above 7%, but to have to hit that exact window? Whoever took that job was going to be doomed to failure, and reliant on either the PFFA or LOCAT to enact reforms to save their job. If I was in the hunt for work, I'd look elsewhere. As it is, I sincerely doubt that I'll see a pension at this point, and I'm looking for work elsewhere too. Is Smout confirmed, or might I still apply for that job too?Anonymousnoreply@blogger.com