We attended your retirement systems(AR Public Employees Retirement System aka APERS) board meeting yesterday. The board reported an 7-8.8% annual return for the year ending June 2023, depending on what actuarial valuation you applied, which puts APERS in the top 60% of public retirement systems.
There was no discussion of making any changes to your benefit and it should be noted that any suggested changes have to go through the legislative process. Since next year is a fiscal session any bill(s) related to retirement changes would have to wait until 2025 to run outside of calling a special session.
The Joint Committee on Public Retirement meets October 5th and as of today there are no APER matters on the agenda. ASEA will be in attendance just in case.
APERS did speak about reducing their newsletter to two editions per year and advising APER members to sign up to their new email notification system.
More on that later.
Summary: With no burning issues with your retirement benefit and the plan holding steady this keeps ASEA focused on advocating for a new state employee compensation plan. The deep dive into this subject will be discussed in our upcoming ASEA News publication. Thank you for being a member.