HomeMy WebLinkAboutArizona State Retirement System - Public Financial Report2021 PopularAnnual Financial Report
A component unit of the State of Arizona For fiscal year ended June 30, 2021
* Note: Figures and graphics in the background of the cover and last page are used for stylistic purposes only
ARIZONA STATE RETIREMENT SYSTEM | Popular Annual Financial Report 20212
A Message From the Director
Note: Terminology marked with a “Ŧ” symbol is defined in the glossary 3
ARIZONA STATE RETIREMENT SYSTEM | Popular Annual Financial Report 20214
Funded Status
Defined Benefit Program Funding Ratio
Net Pension & OPEB Liability of Employers
Investments Summary
Target Asset Allocation
Market Value of Investments by Fund
Retirement Fund Market Value of Investments
Portfolio Returns and Benchmarks
One-Year Returns
Financial Summary
Fiduciary Net Position
Changes in Fiduciary Net Position
Member Data
Member Composition by Status
Active Members by Employer Type
Active Member Averages
Retired Member Averages
Glossary
Table Of Contents
Note: Terminology marked with a “Ŧ” symbol is defined in the glossary 5
(In thousands)
Year Ended June 30, 2021
Funded Status
ARIZONA STATE RETIREMENT SYSTEM | Popular Annual Financial Report 20216
(Numbers represented in billions)
Retirement Fund: 95.4% - $47,789,937,000
HBS:4.2% - $2,102,493,000
LTD:0.4% - $183,901,000
Investments Summary
Note: Terminology marked with a “Ŧ” symbol is defined in the glossary 7
54.3% Total Equities
15.8% Real Estate
7.3% Interest Rate Sensitive Bonds
20.6% Total Credit
2.0% Cash
2020 202120122013201420152016201720182019
INVESTMENTS SUMMARY cont’d
1-Year
3-Year
5-Year
10-Year
TotalFund
Interest Rate Sensitive
TotalCredit
RealEstate
TotalEquity
ARIZONA STATE RETIREMENT SYSTEM | Popular Annual Financial Report 20218
ASRS: 10.3%
ASRS: 10.9%
ASRS: 8.9%
ASRS: 25.1%
Benchmark: 26.8%
Benchmark: 10.1%
Benchmark: 9.7%
Benchmark: 8.0%
ASRS: 25.1%
Benchmark: 26.1%
ASRS: (0.4%)Benchmark: (0.3%)
ASRS: 13.8%Benchmark: 23.7%
ASRS: 8.4%Benchmark: 1.6%
ASRS: 41.0%
Benchmark: 44.2%
ASSETS
TOTAL ASSETS
ADDITIONS
TOTAL ADDITIONS
DEDUCTIONS
TOTAL DEDUCTIONS
NET CHANGE
Net Position Restricted For Pension / OPEB Benefits
LIABILITIES
TOTAL LIABILITIES
$50,558,908
$13,286,562
$3,846,259
$9,440,303
$100,941
$10,183,994
$8,072,397
$10,284,935
$23,861
$50,536,054
($1,366,899)
$9,440,303
$42,486,511
$3,001,627
$3,745,318
($743,691)
2.7%
(1,369.4%)
19.0%
342.6%
$1,390,760
$41,095,751
(98.3%)
23.0% Net Position Restricted For Pension / OPEB BenefitsŦ
(In thousands)
(In thousands)
FINANCIAL SUMMARY
Note: Terminology marked with a “Ŧ” symbol is defined in the glossary 9
(2020)
The above tables summarize member averages determined from the ASRS’ June 30, 2020, actuarial valuation.
Active Plan Members
Average Years of Service
Average Annual Salary
Average Age
(27,412)
(18,332)
(16,103)
(21,786)
(6,796)
(9,349)
3% Charter Schools (5,415)
(As of June 30, 2021)
50% Public Schools (106,895)
MEMBER DATA
(2020)
Retired Plan Members
Average Monthly Annuity
Average Years of Service
Average Age
ARIZONA STATE RETIREMENT SYSTEM | Popular Annual Financial Report 202110
Receiving Benefits Active Members InactiveMembers
GLOSSARY
Note: Terminology marked with a “Ŧ” symbol is defined in the glossary 11
An agency of the State of Arizona