41st Annual Convention - Huntsville, Alabama.
Alabama’s “Rocket City” - Huntsville - hosted the 41st Annual ARSEA/APEAL Convention on September 28th and 29th as members from across the state gathered to discuss important issues, listen to news-making public figures, and hear about our plans to improve retirement benefits.
Informative meetings and sessions combined with entertaining events like our Friends of Retirees and Employees Political Action Committee (FOREPAC) Dinner to provide attendees with a convention that is both fun and educational. It also provided attendees with the opportunity to interact with and talk directly to some of Alabama’s most powerful elected officials, lawmakers, and other notable personalities. RSA Deputy Director Jo Moore, Governor Kay Ivey, and Mayor Tommy Battle of Huntsville were among our speakers.
RETIREMENT SYSTEMS OF ALABAMA DEPUTY DIRECTOR JO MOORE ADDRESSES GATHERING OF ARSEA/APEAL
Jo Moore, the deputy director for administration of the Retirement Systems of Alabama, recently addressed a meeting of ARSEA/APEAL to share a bit about her background and discuss the daily operations of the state pension system.
Moore, who was appointed to her position by RSA Chief Executive Officer Dr. David Bronner in July, has 24 years of experience as an attorney - 15 years in private practice and nine years with RSA.
She fills the role that was left vacant when longtime RSA Deputy Director Don Yancey announced his retirement. While Moore directs the daily operations, legal work, and other administrative responsibilities of RSA, her counterpart, Deputy Director for Investments Marc Green, is responsible for the financial performance of the system.
Moore said both of her parents were public school teachers in Georgia who retired with defined benefit pensions, and her father instilled in her the importance of planning for retirement. A stable, secure, and dependable retirement benefit is perhaps the most important asset anyone can possess, according to Moore.
Noting that the Employees Retirement System (ERS) currently holds roughly $15.7 billion in assets, Moore said the funding comes from three separate sources - the employers’ contributions, the participants’ contributions, and returns on investments, which are currently running at record levels thanks to strong performances on Wall Street.
The ERS is just over 68% funded when future long-term obligations are factored, and it pays benefits totaling $104 million per month to 55,000 retirees.
Because 66% of ERS participants are employees and retirees from local governments, the Legislature recently expanded the board that governs the ERS from 13 to 15 members by adding two local representatives. Moore thanked our association for its role in passing the landmark legislation, which Dr. Bronner has called one of the most significant and important events in his almost half-century of leading the state pension system.
We feel certain that Jo Moore will be a committed ally in our efforts to serve the interests of our members and we are excited about the opportunities that this promotion offers and wish her much success in the years to come.
ARSEA/APEAL Convention Sponsors
We are taking this opportunity to thank the sponsors of our 2021 Convention in Huntsville. While many of them attended the events they sponsored, and our members had the opportunity to visit with them and thank them for their support at their exhibit tables, some were not able to send a representative and we want to take another opportunity to express our gratitude for their support.
Alabama Securities Commission
Hear in America
Blue Cross Blue Shield
Carr, Riggs and Ingram
ASE Credit Union