Each year, PSPRS produces a Comprehensive Annual Financial Report (CAFR). These reports provide detailed information on each plans’ membership, financial statements, investment performance and actuarial data. CAFRs include summary reports, which are a condensed resource that provides key information regarding Arizona’s public safety pension plans. Below you will find the most recent CAFR and summary report for fiscal year 2016:
You can also access archived reports by clicking here.
Additionally, PSPRS annually publishes actuarial reports written by a contracted, independent and accredited consulting firm. Actuarial reports project the financial liabilities faced by pension systems by analyzing member demographics, retirement and turnover rates, mortality and salary and benefit structures. These calculations are used to determine aggregate and individual employer funding levels and contribution rates for employers.
You may also access archived consolidated reports by clicking here.
To access the individual actuarial valuations for each participating employer, which will show funding status and employer rate, please click here.
Funding Ratios for PSPRS and CORP employers are available on the Funding Ratios page of this website.
Actuarial Experience Studies
Every five years, PSPRS' actuarial firm analyzes the various actuarial assumptions and determines whether or not they track what actually happened (the plan's "experience") during the past five years. If actual experience differs from the assumptions, or if future experience is expected to deviate from the assumptions, the actuary may recommend a change in the assumptions. The most recent experience studies for each of the plans was published in 2017 and includes data from July 1, 2011 through June 30, 2016.
State Agency Budget Submission
As a state agency, PSPRS is required to submit an annual estimated budget to the State of Arizona and post that submission on its website, even though the agency does not receive any appropriated funds from the state and the state does not approve the agency's administrative budget. The document below is the submission for fiscal year 2018. Administrative expenses are expected to equal 14 basis points, or 14/100ths of 1% of assets.
State Agency Budget Submission Fiscal Year 2018