Retirement Systems of Alabama (RSA) is the authority charged with the administrative responsibility of the pensions of the people of Alabama. So, what does the authority do and how does it help the people of Alabama?
First, it aims at running the pension fund for the benefit of all. Therefore, the system strives to reduce the burden on the tax payers when it comes to funding their activities. With this regard, the fund has established a great portfolio of investment opportunities that cater for all the costs. Some of the investments include a successful series of golf trail, hotels and some investments in the real estate sector. The investments that the system is involved in range from long term investments to shorter term investments.
The system has very many members and therefore, the costs of administration are expected to be high. However, the fund has achieved self-funding through its many initiatives and has been ranked among the largest internally funded systems. This means that its management is able and has the interest of the members at heart.
Retirement Systems Alabama also aims at providing useful information to its members especially with respect to their pension. This includes information on the tax returns that require to be filed. This reduces the penalties and fines to members for late submission or wrongful declaration of items. It therefore serves the interest of its members without fail.
The system is open to membership from individuals from all sectors of the economy. The civil servants, the business people, teacher, lawyers and any other interested party. The system however, is only open for those who are residents of the state of Alabama or work there. In addition, the benefits a member accrues for joining this system are many.
If you are a resident in the state of Alabama and you are looking for a sound system where the administration of your pension is not problematic, then you have found a home in Retirement Systems Alabama. It is one of the best performing pension administrative system.