On December 17, 2015, the Legislature’s Pension Reform Working Group, headed by Senator Lesko, released the first informational outline document describing the proposed legislative pension reform framework, which will be presented during the 2016 Arizona Legislative session. The legislative session starts January 11, 2016.
Below is the document presented to the Working Group and explained by the Reason Foundation during the December 17, 2015 Working Group meeting. The document is a DRAFT and may be revised several times over the coming weeks.
Keep in mind, the Reason Foundation describes itself as a think tank that “…advances a free society by developing, applying, and promoting libertarian principles, including individual liberty, free markets, and the rule of law.” Generally, the Reason Foundation is a libertarian group promoting pension reform by working with legislators and stakeholders. The Reason Foundation said the goal of its Pension Integrity Project is to help the legislature design and implement retirement benefit structures that promote good public policy, are fiscally sustainable, reduce the taxpayer costs of providing pension benefits to public employees, while also providing reasonable retirement security for employees. www.reason.org
See Reason Foundation’s Pension Reform Handbook: A Starter Guide for Reformers. How policymakers can implement fiscally sustainable pension reforms.
In order to make a comparison of the Pension Reform Outline of the 2016 Legislative Pension Reform Proposal, download a Summary of CURRENT PSPRS Benefits.