Pension overhaul sought for Arizona officials (Arizona Republic)


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.

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