A committee that studied funding issues with Arizona’s pension system for public employees is recommending that current and former workers be allowed to move into a 401(k)-style plan as an optional alternative to fixed-benefit pensions.
The report by the pension-study committee led by state Treasurer Doug Ducey says the state should also raise the retirement age for future public employees if Arizona is interested in changing its underfunded public-pension system.
Ducey’s committee presented its report at a hearing Thursday.
The Arizona Republic reports Republican committee member Sen. Steve Yarbrough says he will seek legislative approval of some of the report’s recommendations.
