Arizonans each need to cough up $8,300 to cover state employees' pensions

03-31-2010 • The Goldwater Institute

Arizona’s three pension funds for government employees have predicted they will pay more in benefits to retirees over the next three decades than they will collect from worker paychecks and investments. But a new report from the Goldwater Institute says the size of that funding shortfall could be five times larger than the pension funds have previously reported.

1 Comments in Response to Arizonans each need to cough up $8,300 to cover state employees' pensions

Comment by Frank Henry

Entered on: 4/1/2010 4:17:15 PM

Hi,

Sure hope the legislators don't fall back on any "Claw-Back" plans such as:

1. Reduce all public retirement plans by 10% to 50%.

2. Claw back any pensions with salaries that were "spiked".

3. Remove any retirement laws that give protection to only a small class
of people ... the laws, if they exist, should cover all citizens of our state.

4. State may need to establish retirement scheme for public workers equal to
     retirement plans being offerred in the private sector...such as:
    1. 40 years for full retirement level...not the present 20 or so years.
    2. Offer health plans...but the retiree pays the full premium.

This is a few items...maybe their are other claw-backs.

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