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State retirement system board approves contribution rate hike

• East Valley Tribune

Arizona State Retirement System's board of trustees approved Friday an increase for next year's contribution rates for groups that participate in the system.

Next year, employees and employers [i.e., taxpayers] will both contribute 10.75 percent of an employee's salary to the program, which has provided a guaranteed pension benefit, a long-term disability income plan, retiree health insurance and survivor benefits to its members since 1953, according to a press release.


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