The Pensioners First organization is demanding that the Board of Trustees for the Arizona public safety employee pension be reformed and reigned in.
January 24, 2014 (Newswire) - Pensioners First - a grassroots coalition of pension constituents, and labor and union representatives - have created the news website www.psprsWRONGS.wordpress.com, to chronicle the many concerns associated with the Arizona Public Safety Personnel Retirement System (PSPRS).
It is spring time; therefore, the Arizona Legislature is in session. Arizona legislators - it is time to change the oversight and state monitoring of the Arizona Public Safety Personnel Retirement System.
The Arizona Public Safety Personnel Retirement System (PSPRS) and its associated retirement plans, the Elected Officials' Retirement Plan and Corrections Officer Retirement Plan, are responsible for administering the pensions of Arizona's police, fire, and corrections officers, as well as Arizona's judges and elected officials. For ease of management, the plans have commingled their assets into a single trust, which now has over $7 billion in Arizona-based and non-Arizona based assets under management. The Arizona Public Safety Personnel Retirement System and its associated retirement plans represent over 52,000 pensioners from the State of Arizona.
These people have protected us, now we need to protect them.
Several news publications have documented very, very serious concerns regarding the management of PSPRS.
In multiple articles, the Arizona Republic has documented that one local real estate manager has sustained losses totaling over $389 million from 2009 - 2013.
Pensioners First is calling for Arizona state officials, including the legislature, to take action and fix the problems. Increase transparency, increase oversight, reduce the abominable investment losses!
The Arizona PSPRS Board of Trustees must be held accountable!
As a result, Pensioners First has created the news website www.psprswrongs.wordpress.com to bring many issues to the public's attention, including a potential criminal investigation.
52,000 pensioners and 6.5 million taxpayers are watching!
Go to www.psprsWRONGS.wordpress.com for details.