Arizona May Get $275 Million Public Pension Lifeline from Voters
- Measure would require cost-of-living adjustments to pensions
- There’s just a few measures dealing with unfunded liabilities
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Voters in Arizona could throw the state another lifeline for two of its underfunded retirement plans.
A measure on the ballot Nov. 6 would save the state $275 million over the next two decades by changing a method that allowed public employee retirees to see big bumps in benefits during years of strong investment returns. Proposition 125 would require the pension plans to use a more traditional cost-of-living adjustment when determining pension benefit levels.