May 10, 2010

ASRS director says fund solid, Legislature can’t touch it

Even with a mind-numbing return on investment of minus 18 percent and a report suggesting that the Arizona State Retirement System is woefully underfunded, retirees and current employees banking on a stable pension check need not worry.

So says Paul Matson, ASRS director, who notes that the retirement system is sitting on a whopping $25.5 billion pot of money.