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Phoenix Pensions: No Reform/Slightly Better
Tuesday, Phoenix marginally improved its pension system. However, it failed to take reasonable and necessary steps toward protecting taxpayers and creating a stable retirement system for employees, the city and taxpayers. Instead Phoenix modeled its plan similarly to the state and every other government plan in the country – the same plans that have failed and created fiscal problems everywhere they’ve been used.
I really care about our employees and the services we provide the public, but the pension direction right now is unsustainable and doesn’t work for anyone.
The new Phoenix plan saves money, but long-term reform, as I had recommended, did not occur.
Taxpayers were not protected against the skyrocketing pension costs that have bankrupted cities throughout the United States. I firmly believe and support a cap that limits taxpayer exposure.
Pension and pension costs have eaten away at vital city services. Cuts in after school programs, library and senior programs and pools are a direct result of high pension costs. Money either goes to public service or to government servants. It is not complicated.
Here are the facts:
Here are the solutions:
The new system (or the old one tweaked):
Finally, more and more it appears the taxpayer will need to take pension reform directly to the ballot. A taxpayer initiative is the road to real reform, not one driven by the government.
My best to you and your family,
City of Phoenix
Councilman, District 6
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Thursday, September 27, 2012
Posted by Rachel Alexander at Thursday, September 27, 2012