In just two weeks, Phoenix residents will head to the ballot boxes to vote on Proposition 487, the controversial pension reform measure that would shift new hires into a 401(k)-type system. Recently, a group opposing the law made a bold claim: “Prop. 487 will cost Phoenix taxpayers more than $350 million over the next 20 … Continue reading Fact Check: Would Phoenix’s Pension Proposal Really Cost $350 Million?
The Arizona Republic runs a great column every week where they ask a dozen major political players in Phoenix a question regarding an important issue. This week, pensions were the issue. Specifically Proposition 487, which would shift new hires into a 401(k)-style system as opposed to a defined benefit plan. There has been much debate … Continue reading Phoenix Politicians Weigh In On Pension Reform Measure
A Phoenix ballot initiative – titled Proposition 487 – would block off the city’s traditional pension system from all new hires, and instead shift those employees into a new, 401(k)-style plan. Unions have made no secret of their disdain for the initiative and have raised over $100,000, mostly from firefighters, to fund ads opposing the … Continue reading Anonymous Money Floods Phoenix Pension Vote
A Phoenix ballot initiative – titled Proposition 487 – would block off the city’s traditional pension system from all new hires, and instead shift those employees into a new, 401(k)-style plan. The measure, if passed, would not apply to the city’s police and firefighters. But opponents of the reform are now saying that a legal … Continue reading State Law May Stand In Way of Phoenix Pension Cuts
Labor groups and others in Phoenix are expressing outrage over a pension reform proposal – titled Proposition 487 – that would shift all new hires by the city into a new, 401(k)-style plan as opposed to the traditional pension plan that workers currently belong to. The critics claim the new plan would cut benefits for … Continue reading Critics, Unions Bash Phoenix Pension Proposal
