December 11, 2019
Public Safety Personnel Retirement System
State of Arizona
December 11, 2019
Stakeholders discuss Section 115 Trusts
PSPRS trustees and administrative staff leaders met with stakeholders to discuss the potential introduction of Section 115 trusts to expand employer options to help pay down unfunded pension liabilities.
Trustee Scott McCarty and PSPRS Chief Investment Officer Mark Steed spoke with several dozen stakeholders from municipal, county and state governments about pending plans to introduce the trusts, named after Section 115 of I.R.S. regulations, through legislation.
The trusts are intended to allow employers invest and generate returns on money that would otherwise generate minimum returns through traditional money market accounts. All money invested in Section 115 trusts is earmarked and can only be used for a single specific purpose, including paying down unfunded pension obligations.
The meeting was broadcasted online via a webinar on December 11, 2019.
The presentation is available online by clicking here.
An audio recording of the presentation is available here.
