ARIZONA STATE LEGISLATURE

 

DEFINED CONTRIBUTION AND RETIREMENT STUDY COMMITTEE

 

Minutes of the Meeting

Tuesday, September 27, 2011

2:30 p.m., Senate Hearing Room 1

 

 

Members Present:

Doug Ducey, Chairman

Representative Chad Campbell

Senator Linda Gray

Representative Justin Olson

Senator Steve Yarbrough

Representative David Stevens

Tom Manos representing David K. Byers

Alan Maguire

Lauren Kingry

Scott Smith

 

Brian Tobin

 

 

Members Absent:

Senator Jack Jackson

 

Staff:

Carolyn Speroni, Senate Research Analyst

Sarah Wharton, House Research Analyst

 

Chairman Doug Ducey called the meeting to order at 2:36 p.m. and attendance was noted.  He informed the Committee that Committee member Beth Ford would be joining the Committee via telephone.

 

Chairman Ducey gave opening remarks and answered questions posed by the Committee.

 

Staff Overview of the Committee's Charge and Draft Schedule for Fall 2011

 

Carolyn Speroni, Senate Research Analyst, gave an overview of the Committee responsibilities and answered questions posed by the Committee.

           

Overview of Arizona State Retirement Plans

 

Paul Matson, Director, Arizona State Retirement System (ASRS), distributed a handout "The Defined Contribution Retirement Study Committee" (Attachment A), gave a powerpoint presentation and answered questions posed by the Committee.

 

Jim Hacking, Director, Public Safety Personnel Retirement System (PSPRS), distributed a handout "Public Safety Personnel Retirement System, Corrections Officer Retirement Plan and Elected Officials' Retirement Plan, Financial Retrospective & Prospects for the Future" (Attachment B), gave a powerpoint presentation and answered questions posed by the Committee.

 

Presentation on Recent Utah Pension Plan Changes:  Utah Senator Dan Liljenquist

 

Senator Liljenquist, distributed a handout on "Pension Crisis – The Utah Response" (Attachment C), gave a powerpoint presentation and answered questions posed by the Committee.

 

Review of ASRS and PSPRS Supplemental Retirement Plans

 

Chairman Ducey announced that the supplemental retirement plans would be reviewed at the next meeting.

 

There being no further business, the meeting was adjourned at 4:05 p.m.

 

                                                                                    Respectfully submitted,

 

 

                                                                                    Toy Brown

                                                                                    Committee Secretary

 

(Audio recordings and attachments are on file in the Secretary of the Senate’s Office/Resource Center, Room 115. Audio archives are available at http://www.azleg.gov)

 

 

 

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Defined Contribution and Retirement

Study Committee

September 27, 2011

Page 1

 

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