Panel recommends pension alternative for Arizona
Web Producer: Mekita Rivas
PHOENIX (AP) - A committee that studied funding issues with Arizona's pension system for public employees is recommending that current and former workers be allowed to move into a 401(k)-style plan as an optional alternative to fixed-benefit pensions.
The report by the pension-study committee led by state Treasurer Doug Ducey says the state should also raise the retirement age for future public employees if Arizona is interested in changing its underfunded public-pension system.
Ducey's committee presented its report at a hearing Thursday.
The Arizona Republic reports Republican committee member Sen. Steve Yarbrough says he will seek legislative approval of some of the report's recommendations.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
This site uses Facebook comments to make it easier for you to contribute. If you see a comment you would like to flag for spam or abuse, click the "x" in the upper right of it. By posting, you agree to our Terms of Use.