Arizona Senate Bill 1365 threatens higher taxpayer costs and pension risks

Reason Foundation

Lean Right

Factuality

Ownership

Arizona Senate Bill 1365 threatens higher taxpayer costs and pension risks

Arizona Public Safety Personnel Retirement System Tier 3 reform is working Arizona Public Safety Personnel Retirement System, PSPRS, Tier 3 arose from a bipartisan, stakeholder-negotiated pension reform in 2016, after a rapid freefall saw PSPRS decline from 120% funded in 2001 to nearly 40% funded by 2016. Tier 3 included a risk-managed pension design with a 50/50 contribution rate split between employers and employees, consistent with many oth…