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 for public safety workers — even though the measure is not intended to change public safety benefits.
The video [above] tackles these issues, and others, in an analysis of the measure.