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IPFS News Link • TAXES: State

PUBLIC PENSIONS, A SOARING BURDEN

02/08/2011 • azcentral.com

Even as local governments and the state are slashing budgets, Arizonans are propping up public-pension systems that allow civil servants to retire in their 50s, receive annuities that can exceed $100,000 a year, and collect pensions while staying on the same job. . . In many cases, taxpayer contributions to the pension funds far exceed workers' contributions. In fact, most [public] employees earn all their contributions back within three to four years of retiring.

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Reported By Michele Power

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