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Economist updates senators on ATRS finances, warns inflation erodes retirees' purchasing power
Summary
An economist testifying to the Senate Education Committee said Arkansas's teacher retirement costs have been relatively stable but inflation creates risk for retirees because the ATRS cost-of-living adjustment is a 3% simple (non-compounding) increase tied to base pension, not to CPI.
An economist with expertise in school finance told the Senate Education Committee that Arkansas's teacher pension system has managed its funding risks better than many states, but inflation creates pressure that can erode retirement incomes.
Bob Castrell said Arkansas per-pupil pension contributions have held roughly around $1,000 (inflation-adjusted), compared with national increases from…
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