1. What will Prop 201 do?
It will reduce spiraling pensions costs for the City of Phoenix, saving taxpayers at least $596 million over the next 23 years by:
- Fairly dividing pension costs equally between employees and the City
- Increasing the age and number of years new employees must work before qualifying to receive maximum pension benefits
- Affecting only those employees hired after July 1, 2013.
2. When is the election?
Tuesday March 12th, 2013. Early ballots will be mailed on Thursday, February 14th. For more information on the election and how to vote, visit http://phoenix.gov/ cityclerk/services/electinfo/electspcl.html.
Click here to read the publicity pamphlet published by the City of Phoenix.
3. Will these changes affect current city employees?
No, only employees hired after July 1, 2013 will be affected.
4. How much money will it save?
At least $596 million over the next 23 years.
5. Why is this good for Phoenix?
The retirement system for Phoenix municipal employees has been on an unsustainable path that will ultimately be a burden for taxpayers and fail to meet employee needs. Prop 201 will mitigate these conditions in the retirement system and save taxpayers at least $596 million over the next 23 years.
Prop 201 balances the needs to reduce the cost to taxpayers and ensure the City of Phoenix can retain and attract strong employees by providing competitive retirement benefits.
It is smart, proactive reform that will help to keep the city budget balanced and sustainable while enabling the city to remain competitive.
6. Who Supports Prop 201?
Click here to read arguments in favor of Prop 201, submitted by a wide range of