- Associated Press - Friday, August 28, 2015

PHOENIX (AP) - Arizona’s pension fund for public safety workers has a new chief administrator to oversee the multi-billion dollar plan’s investment portfolio.

The Public Safety Personnel Retirement System’s board announced Thursday that Jared Smout will oversee the pension plans investments and payments to retirees.

Smout has served as interim system administrator since July 2014 and been with the pension plan for 18 years.

The PSPRS trust administration also oversees plans benefiting corrections officers and elected officials. The plans together management $8.3 billion in assets and pay retirement, disability and survivor benefits to about 50,000 beneficiaries.

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