Proposition 487 would amend the City Charter to change the retirement plan for new city employees from the current pension (“defined benefit”) plan, to a 401k-style (“defined contribution”) plan. The proposition also codifies the ban on pension “spiking”.
It makes the important structural reforms needed to fulfill our long-term responsibilities to both public retirees and future tax-payers and, contrary to the claims of employee unions, does not eliminate benefits for first responders. Proposition 487 deserves your support. Continue reading Phoenix Prop 487: City Employees Retirement Plan Reform
It’s that time again—but thank the Lords of Kobol there are no statewide citizens’ initiatives for the 2014 midterm elections; there are, however, a small handful of legislatively referred measures and some for the City of Phoenix. Post in this series will be tagged “AZ Ballot Measures 2014”. As always, please share your thoughts in the comments.
Before we get into the propositions themselves in the next post, some general reminders:
If you are not already registered to vote, 6 October is the deadline. The election is 4 November. Be there. Be registered. Be having your identification with you.
See also my previous notes about Ballot Numbering and Other Good Things to Remember