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Panel to mull police and fire pension overhaul

Posted at 8:06 AM, Feb 10, 2016
and last updated 2016-02-10 10:06:27-05
An Arizona House committee has scheduled a special meeting to consider a proposal overhauling the state's badly underfunded public safety worker pension plan.
 
Wednesday's meeting of the House Insurance Committee will consider only the three bills in the overhaul package passed last week by the Senate.
 
Backers of the legislation are hoping it can pass the House this week so a portion requiring voter approval can make the May 17 special election ballot.
 
Voter approval is required because current retiree cost-of-living adjustments would be lowered.
 
The issue is pressing because public agencies have seen contribution rates to the Arizona Public Safety Personnel Retirement System soar to make up for the underfunding.
 
Peoria Republican Sen. Debbie Lesko negotiated the deal with public safety unions and employers.