OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

SB 1609 - Public Workers' Pensions - Arizona Key Vote

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Title: Public Workers' Pensions

Vote Smart's Synopsis:

Vote to concur with House amendments and pass a bill that makes adjustments to the public retirement system benefits.

Highlights:

  • Specifies that if a member of the state retirement system is convicted of a felony (class levels 1-5) while working for the public sector, he or she may not continue to receive retirement benefits provided by his or her company, and such benefits must be terminated (Sec. 1).
  • Specifies that if such offense mentioned above occurred before the passage of this bill, rights and benefits of retirement program shall not be revoked (Sec. 1).
  • Specifies that for members whose membership starts on or after July 1st, 2011, normal retirement age shall be defined by the following (Sec. 2):
    • A member's 65th birthday;
    • A member's 62nd birthday and completion of at least 10 years of service;
    • A member's 60th birthday and completion of at least 25 years of service; or,
    • A member's 55th birthday and completion of at least 30 years of service.
  • Requires that members whose retirement benefits were suspended must repay Arizona State Retirement System (ASRS) any retirement benefits received (Sec. 9).
  • Requires that for the 2011 fiscal year and each following year, 8.4 percent of the member's salary or 50 percent of the sum of the member's contribution rate from the preceding fiscal year and aggregated computed employer contribution rate, whichever is lower, shall be the amount contributed to the retirement plan (Sec. 46).

Full Bill Text

See How Your Politicians Voted

Title: Public Workers' Pensions

Vote Smart's Synopsis:

Vote to pass a bill that makes adjustments to the public retirement system benefits.

Highlights:

  • Specifies that if a member of the state retirement system is convicted of a felony (class levels 1-5) while working for the public sector, he or she may not continue to receive retirement benefits provided by his or her company, and such benefits must be terminated (Sec. 1).
  • Specifies that if such offense mentioned above occurred before the passage of this bill, rights and benefits of retirement program shall not be revoked (Sec. 1).
  • Specifies that for members whose membership starts on or after July 1st, 2011, normal retirement age shall be defined by the following (Sec. 2):
    • A member's 65th birthday;
    • A member's 62nd birthday and completion of at least 10 years of service;
    • A member's 60th birthday and completion of at least 25 years of service; or,
    • A member's 55th birthday and completion of at least 30 years of service.
  • Requires that members whose retirement benefits were suspended must repay Arizona State Retirement System (ASRS) any retirement benefits received (Sec. 9).
  • Requires that for the 2011 fiscal year and each following year, 8.4 percent of the member's salary or 50 percent of the sum of the member's contribution rate from the preceding fiscal year and aggregated computed employer contribution rate, whichever is lower, shall be the amount contributed to the retirement plan (Sec. 46).

Full Bill Text

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