Register | Forgot Your Password? | Close
Register | Forgot Your Password? | Close

PHOENIX The Arizona House of Representatives has approved a plan to eliminate pensions for new elected officials and judges and replace them with a 401(k) style retirement plan.

The measure was sent to the Senate for approval in a 35-22 vote Thursday.

House Speaker Andy Tobin championed the plan opposed by Democrats.

Republicans say elected officials and judges backing the current pension plan are greedy.

Democrats counter that the proposed overhaul would make it difficult to attract middle class and low-income people to public service.

Arizona's Elected Officials Retirement Plan only has assets to cover about 58 percent of its liabilities.

Copyright 2013 The Associated Press.

Associated Press,

share this story:
Attention KTAR.com Comment Users: We have recently changed our comments boards.
We would like you to be part of the conversation and The Voice of Arizona by logging in with your Facebook, Twitter, Google+ or Disqus account. Existing KTAR (Arizona Sports) account members will need to create a Disqus account or use one of the aforementioned social media logins. Thank you.
comments powered by Disqus

World Class Arizona

  • Dignity Health

    World Class People. World Class Company. Excellent care, delivered with compassion, for all in need.
  • CopperPoint Mutual Insurance Company

    SCF Arizona has a new name. They are now CopperPoint Mutual Insurance Company.
  • Taylor Morrison

    World Class People. World Class Company. We are a national home builder committed to building homes inspired by you.
  • Go Daddy

    World Class People. World Class Company. Go Daddy is a Fortune 100 "Best Companies to Work For."
  • Avnet

    World Class People. World Class Company. Here's information on a Fortune 500 company from Arizona.

Voice For A Better Arizona

  • Working For Arizona

    The business and economics of Arizona at the start of 2014 and looking forward.
  • Arizonans In Need

    Putting a focus on charities and organizations who provide help and/or need your help to fulfill their missions.