Arizona SRS Basics

  • Established 1953
  • Currently open to new hires
  • Plan covers state and local employees
  • Plan members covered by Social Security
  • Multiple employer, cost sharing plan

Assets, Participants, and Benefits

Assets at Year-End, Arizona SRS, 2001-2018

Fiscal Year Net Assets (billions)
2001 20.8
2002 18.3
2003 17.9
2004 20.5
2005 21.6
2006 23.2
2007 27.1
2008 24.7
2009 19.9
2010 22.1
2011 26.8
2012 26.4
2013 29.0
2014 33.7
2015 33.6
2016 32.9
2017 36.2
2018 38.5

Source: Public Plans Database

Number of Actives per Annuitant, 2001-2018

Fiscal Year Arizona SRS US State and Local Pensions
2001 3.0 2.5
2002 3.1 2.4
2003 2.9 2.3
2004 2.8 2.2
2005 2.7 2.1
2006 2.6 2.1
2007 2.5 2.0
2008 2.4 2.0
2009 2.2 1.9
2010 2.0 1.8
2011 1.9 1.7
2012 1.7 1.6
2013 1.6 1.5
2014 1.6 1.5
2015 1.5 1.5
2016 1.5 1.4
2017 1.4 1.4
2018 1.4 1.3

Source: Public Plans Database

National data averages are weighted by plan size.

Costs

Employer's Annual Required Contribution as a Percentage of Payroll and Portion Paid for Arizona SRS, 2001-2018

Fiscal Year Portion of Employer ARC paid Portion of Employer ARC left unpaid US Avg Employer ARC ARC as a Percent of Payroll {role:annotation}
2001 1.2 0.0 5.0 1.2 1.2
2002 1.9 0.0 4.8 1.9 1.9
2003 1.9 0.0 5.7 1.9 1.9
2004 4.0 0.0 7.3 4.0 4.0
2005 4.0 0.0 9.0 4.0 4.0
2006 5.7 0.0 9.3 5.7 5.7
2007 7.2 0.0 10.0 7.2 7.2
2008 7.8 0.0 10.4 7.8 7.8
2009 7.7 0.0 10.2 7.7 7.7
2010 8.1 0.0 10.5 8.1 8.1
2011 8.7 0.0 12.5 8.7 8.7
2012 9.6 0.0 12.9 9.6 9.6
2013 10.4 0.0 14.0 10.4 10.4
2014 10.8 0.0 14.4 10.8 10.8
2015 11.1 0.0 14.9 11.1 11.1
2016 10.7 0.0 14.8 10.7 10.7
2017 10.7 0.0 15.1 10.7 10.7
2018 10.7 0.0 15.9 10.7 10.7

Source: Public Plans Database

National data averages are weighted by plan size.

Actuarial Funding

Actuarial Funded Ratio for Arizona SRS, 2001-2018

Fiscal Year Arizona SRS National Data
2001 115.1 106.5
2002 106.4 101.1
2003 98.4 94.2
2004 92.5 93.1
2005 86.1 91.1
2006 84.3 90.5
2007 83.3 91.2
2008 82.1 90.2
2009 79.0 83.2
2010 76.4 81.5
2011 75.5 80.4
2012 75.3 78.9
2013 75.4 78.7
2014 76.3 79.0
2015 77.1 78.2
2016 77.6 76.3
2017 70.5 76.4
2018 71.2 76.6

Source: Public Plans Database

National data averages are weighted by plan size and reflects the average for plans of similar type and Social Security coverage.

Investments

Asset Allocation for Arizona SRS, 2018

Category Percent
Equities 46.3
Fixed Income 10.2
Private Equity 21.0
Real Estate 10.8
Cash 2.2
Other 0.0
Commodities 1.4
Hedge Fund 8.1
Misc. Alternatives 0.0

Source: Public Plans Database

Asset Allocation for State and Local Pensions, 2018

Category Percent
Equities 48.3
Fixed Income 22.2
Private Equity 9.0
Real Estate 8.4
Cash 1.8
Other 0.3
Commodities 1.9
Hedge Fund 7.0
Misc. Alternatives 1.2

Source: Public Plans Database

National data averages are weighted by plan size.


Asset allocation for Arizona SRS, 2001-2018

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2001 73.9 26.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2002 67.6 32.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2003 73.6 26.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2004 68.6 25.0 0.0 0.1 6.3 0.0 0.0 0.0 0.0
2005 69.7 23.0 0.0 0.1 7.2 0.0 0.0 0.0 0.0
2006 69.2 24.1 0.0 1.0 5.7 0.0 0.0 0.0 0.0
2007 70.4 22.0 0.0 0.8 6.8 0.0 0.0 0.0 0.0
2008 67.6 26.2 0.5 2.0 3.4 0.0 0.0 0.3 0.0
2009 64.7 25.9 1.3 2.8 4.3 0.0 0.0 0.8 0.0
2010 65.3 23.7 2.1 3.1 4.6 0.0 0.0 1.3 0.0
2011 63.3 21.1 2.9 4.1 7.3 0.0 0.0 1.3 0.0
2012 62.8 19.5 4.8 5.2 5.4 0.0 0.0 2.4 0.0
2013 62.8 19.5 4.8 5.2 5.4 0.0 0.0 2.4 0.0
2014 52.3 13.7 9.6 5.9 4.9 0.0 0.3 13.3 0.0
2015 53.2 14.0 11.9 6.7 4.0 0.0 1.4 8.8 0.0
2016 45.9 15.6 16.8 9.9 2.8 0.0 1.6 7.4 0.0
2017 48.4 12.6 18.6 9.0 2.3 0.0 1.5 7.6 0.0
2018 46.3 10.2 21.0 10.8 2.2 0.0 1.4 8.1 0.0

Source: Public Plans Database


Annual Return as of June 30 for Arizona SRS, 2001-2018

Fiscal Year Arizona SRS Assumed return
2001 -6.70 8.00
2002 -8.20 8.00
2003 2.40 8.00
2004 17.50 8.00
2005 8.50 8.00
2006 9.80 8.00
2007 17.80 8.00
2008 -7.60 8.00
2009 -18.10 8.00
2010 14.91 8.00
2011 24.60 8.00
2012 1.30 8.00
2013 13.10 8.00
2014 18.60 8.00
2015 3.20 8.00
2016 0.60 8.00
2017 13.90 7.50
2018 9.40 7.50

Source: Public Plans Database

National data averages are weighted by plan size.

Cash Flows

Cash Flow vs. Total Assets (Millions)
Arizona SRS
2001-2018

Fiscal Year Cash Flow Assets
2001 -694.1 20,798.3
2002 -689.0 18,347.0
2003 -780.1 17,921.6
2004 -533.2 20,485.2
2005 -635.3 21,570.9
2006 -477.5 23,219.6
2007 -255.7 27,069.6
2008 -389.1 24,717.2
2009 -403.3 19,880.5
2010 -605.8 22,147.0
2011 -714.5 26,839.2
2012 -760.0 26,402.1
2013 -770.3 29,025.4
2014 -846.0 33,693.7
2015 -897.2 33,645.6
2016 -1,008.8 32,859.8
2017 -1,064.0 36,202.8
2018 -1,125.4 38,491.9

Source: Public Plans Database


Cash Flow as a Percentage of Assets
Arizona SRS
2001-2018

Fiscal Year Arizona SRS National Average
2001 -3.3 -2.3
2002 -3.8 -2.3
2003 -4.4 -2.6
2004 -2.6 -1.7
2005 -2.9 -1.9
2006 -2.1 -1.9
2007 -0.9 -1.7
2008 -1.6 -1.9
2009 -2.0 -2.7
2010 -2.7 -2.9
2011 -2.7 -2.8
2012 -2.9 -3.1
2013 -2.7 -3.0
2014 -2.5 -2.7
2015 -2.7 -2.8
2016 -3.1 -3.0
2017 -2.9 -2.9
2018 -2.9 -2.4

Source: Public Plans Database

National data averages are weighted by plan size.

2019 Financial Reports

Benefits

Website for Arizona SRS benefit descriptions.