Proposition 487 would reform the city of Phoenix’s pension system. We hear from a proponent of the measure, Phoenix city councilman Sal DiCiccio, one day after hearing Phoenix mayor Greg Stanton speak against the measure.
Arizona successfully completed its inaugural Citizens’ Initiative Review, a citizen-participant project to help voters better understand complex ballot issues. For nearly four days, 20 participants who represent a sample of Phoenix voters thoroughly examined Phoenix’s Proposition 487, a pension reform proposal. Andrea Whitsett, CIR project manager at Arizona State University’s Morrison Institute for Public Policy, and Joe Garcia, communications director for the institute, will discuss the results of the project.
City of Phoenix voters will be deciding this fall on a measure to reform the city’s pension plan for employees. It would end the practice of boosting pensions by adding vacation and sick time, and would transition employees into a 401-K style plan. Tom Simplot, the co-chair of Phoenix Citizens for Pension Responsibility, which opposes the changes, will discuss the issue.
Pension spiking is the practice of adding sick leave, vacation pay and other benefits at the end of a worker’s career to increase their pension. The Goldwater Institute has sued to stop the practice in the city of Phoenix. Arizona Republic columnist Laurie Roberts will discuss the issue.
The Arizona State Retirement System is a $28 Billion system with over half-a-million members. Its ten-year-rate of return has been over six percent. Paul Matson, the Chief Executive of the Arizona State Retirement System, will give us a status update on the pension system and will talk about a plan being proposed in congress that would uses private insurance companies to pay out annuities for public pensions.
During the recent legislative session, lawmakers made several changes to Arizona’s state employee pension systems. Labor groups have threatened to sue saying some of those changes are unconstitutional. Employment attorney John Balitis shares his legal analysis of whether or not the changes pass constitutional muster.
House Speaker Kirk Adams has introduced legislation to reform Arizona's public employee pension system. Among other things it would raise the retirement age, increase employee's payments and eliminate cost-of-living increases. Speaker Adams discusses.