Annual Reports (CAFR & Actuarial)

CAFR

Each year, PSPRS produces Comprehensive Annual Financial Reports (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 are links to the most recent CAFR and archived reports from prior years:

PSPRS Comprehensive Annual Financial Report - June 30, 2019

Public Safety/CORP Annual Financial Report for the Cancer Insurance Policy Program - June 30, 2018

Archived CAFR reports from prior year, click here.


Actuarial Valuations

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.  Below are links to the most recent actuarial and archived reports from prior years:

PSPRS Consolidated Actuarial Valuation, June 30, 2019

CORP Consolidated Actuarial Valuation, June 30, 2019

EORP Consolidated Actuarial Valuation, June 30, 2019

Archived consolidated reports from prior years, click here.


Employer Valuations and Funded Status for PSPRS and CORP

To find current and archived PSPRS and CORP employer valuations with contribution rates and funding status, click here.   To view a comparative table of employer funding ratios, click here.

EORP and EODCRS:  Click here to visit our EODCRS page to locate employee, employer and alternate contribution rates (ACR).

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.

PSPRS Experience Study 2011-2016

CORP Experience Study 2011-2016

EORP Experience Study 2011-2016


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 the current fiscal year.  Administrative expenses are expected to equal 14 basis points, or 14/100ths of 1% of assets.

State Agency Budget Submission Fiscal Year 2021


5-Year Strategic Plan Submission Fiscal Year 2021

Fiscal Year 2020 Strategic Plan and Executive Summary