March 18, 2020
Public Safety Personnel Retirement System
State of Arizona
March 10, 2020
Contact: Christian Palmer
Michael Smarik named PSPRS deputy administrator
"Perfect skillset" for pension duties, says Administrator Mike Townsend
PHOENIX – The state’s Public Safety Personnel Retirement System Board of Trustees and administrator announced the appointment of Michael Smarik as the deputy administrator of the system, which provides retirement benefits to the state’s first responders, corrections officers, judges and elected officials.
Smarik, a certified public accountant, has worked for the State of Arizona since 1980 in a number of leadership positions at various agencies. Most recently, Smarik worked as interim state comptroller and prior to that as deputy state comptroller with the Arizona Department of Administration. Before joining ADOA in 2005, Smarik worked for 20 years at the Arizona Department of Corrections, where he served as Director of the Support Services Division, assistant director for Administrative Services and the agency’s Business and Finance Administrator.
Smarik’s relevant experience also includes years of service as a member of the Arizona State Retirement System Board of Trustees and as a local board member for the Arizona Department of Corrections.
“I’m excited for this opportunity to work for the men and women who belong to PSPRS, CORP and EORP,” Smarik said. “The PSPRS Board of Trustees and executive leadership are committed to long-term solutions that protect member benefits and lower the cost for employers and taxpayers.”
PSPRS administrator Mike Townsend praised Smarik’s deep and relevant public sector experience and respect among peers in state government.
“For 40 years, Michael Smarik has done great work on behalf of Arizona’s taxpayers and his fellow state employees,” Townsend said. “I’m looking forward to working side by side with him to improve our system’s operations and accounting procedures and to even further enhance the credibility of PSPRS in the eyes of taxpayers and our 60,000 members. He has the perfect skillset and demeanor to help make PSPRS a best in class public sector retirement fund.”
Smarik holds a Bachelor of Science degree in Business Administration, Accounting from the University of Arizona.
The PSPRS trust combined with the Corrections Officers Retirement Plan and the Elected Officials Retirement Plan is valued at roughly $11.2 billion. The system collectively provides retirement, disability and survivor benefits to approximately 60,000 retired and active members.
PSPRS is governed by a nine-member board consisting of four members of PSPRS-managed retirement plans and five civilians that meet stringent requirements for financial, investment and business expertise.