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Phoenix Considers Capping Pension Benefits, Other Changes; Measure Could Be on August Ballot

The Phoenix City Council is debating whether to put a major pension measure on the August ballot, according to a report from the Arizona Republic. The measure, designed to reduce the city’s future pension costs, would aim to eliminate pension “spiking” by putting a cap on the salary used to determine pension benefits. But the measure would also ...
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Phoenix Lawmakers Weigh In On Proposition 487

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 disability benefits could ...
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Would Phoenix’s Proposition 487 Hurt Public Safety Workers?

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 ...
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How Would Phoenix Officials Handle The Up-Front Costs of Proposition 487?

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 a more sustainable pension system. There ...
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Fact Check: Would Phoenix’s Pension Proposal Really Cost $350 Million?

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 years.” But is ...
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Phoenix Politicians Weigh In On Pension Reform Measure

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 over whether ...
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State Law May Stand In Way of Phoenix Pension Cuts

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 quirk could end ...
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