Pension overhaul sought for Arizona officials (Arizona Republic)

EXCERPT:

January 17, 2013 – A new legislative proposal could save taxpayers hundreds of millions of dollars by creating a less generous, 401(k)-style retirement plan for future Arizona elected officials, including Superior Court judges. State Rep. Phil Lovas, R-Peoria, and Sen. Steven Yarbrough, R-Chandler, told The Arizona Republic on Wednesday that they would try to push the plan through their respective chambers in the Republican-controlled Legislature during the session that began this week. Both lawmakers said the Elected Officials’ Retirement Plan, the most generous of Arizona’s public pension systems, is financially unsustainable.

Link to Full Article: http://www.azcentral.com/arizonarepublic/news/articles/2013/01/16/20130116pension-overhaul-sought-for-officials.html?nclick_check=1

 

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