When Phoenix voters go to the polls today, they will decide the fate of one of the most controversial ballot measures in the country: Proposition 487. The measure would close of the city’s defined-benefit system to new hires and shift them into a 401(k)-style plan. Public safety workers are excluded, but unions say death and … Continue reading Phoenix Lawmakers Weigh In On Proposition 487
Proposition 487 is a Phoenix ballot measure that would close off the city’s defined-benefit pension plan for new hires and instead shift them into a 401(k)-style system. The measure would also prohibit pension “spiking” practices. Prop. 487 has been surrounded by debate about its true cost, and whether it would reduce death and disability benefits … Continue reading Video: A Closer Look At Phoenix’s Proposition 487
In exactly one week, Phoenix voters will determine the fate of Proposition 487 – the controversial ballot measure that would, among other things, end the city’s defined-benefit plan for all new hires and shift them into a 401(k)-style plan. The measure excludes public safety workers, so nothing would change for police and firefighters. Or would … Continue reading Would Phoenix’s Proposition 487 Hurt Public Safety Workers?
In two weeks, Phoenix voters will decide the fate of Proposition 487 – the ballot measure that would close off the city’s defined-benefit plan from new hires and shift them into a 401(k)-style plan. The plan, if passed, would cost the city millions up front – but the tradeoff, proponents of the plan say, is … Continue reading How Would Phoenix Officials Handle The Up-Front Costs of Proposition 487?
Last week, Phoenix voters shot down Proposition 487, the ballot measure that would have shifted the city’s non-public safety new hires into a 401(k)-style retirement plan. Many public workers, and the city’s mayor, were happy with the result. But one credit rating agency was not. A Moody’s report released Tuesday said the measure would have … Continue reading Moody’s: Voter Rejection of Prop. 487 Is “Credit Negative” For Phoenix
Former Enron trader John Arnold has given large amounts of money to various public pension reform initiatives around the county in recent years. Many of those measures mandate a shift to a 401(k)-style system, or allow benefit cuts. Most recently, he gave $1 million in support of Proposition 487, a Phoenix ballot measure that would … Continue reading Former Enron Trader Continues to Fund Pension Policy Reforms From Behind the Scenes
Phoenix voters struck down a pension reform measure, Prop. 487, on Election Day. But in the weeks since the defeat, several local lawmakers have vocally called for a renewed discussion of pension reform. Perhaps the most prominent of those voices is Phoenix City Councilman Sal DiCiccio, who supported Proposition 487 and wants the conversation about … Continue reading Are Phoenix Pension Costs Really Rising by $18 Million a Year?
On Tuesday, Phoenix residents handily voted down Proposition 487, the ballot measure that would have shifted most new hires into a 401(k)-style retirement plan. The Mayor was an opponent of the measure and called it “too extreme”; but some Phoenix leaders, even the ones that didn’t support Prop 487, are determined to continue the conversation … Continue reading Phoenix Pension Measure Voted Down, But City Leaders Say Reform Debate Not Over
http://youtu.be/8GC0bEBzJ-g The controversial Phoenix ballot measure Proposition 487, which would have transferred all the city’s non-public safety new hires into a 401(k)-style system, has been struck down by voters. From Reuters: In a big victory for city labor unions, voters rejected Prop. 487 by a margin of 56.5 percent to 43.5 percent, according to results … Continue reading Voters Reject Phoenix Pension Overhaul
There were five separate pension measures on the Knoxville ballot yesterday – and voters approved all five by a large margin. The measures weren’t as far-reaching as more controversial reform initiatives such as Phoenix’s Proposition 487. But they still introduce changes to Knoxville’s retirement system. Among the changes: more investment options for workers covered by … Continue reading Knoxville Voters Approve All 5 Pension Measures on Ballot
