Arizona Legislature Approves 50-50 Split In Employer-Employee Pension Contributions

PHOENIX—The Arizona Legislature May 1 gave final passage and sent to Gov. Jan Brewer (R) legislation (H.B. 2264) that would restore a 50-50 split in employee-employer contributions to state workers’ retirement accounts.

The policy change is part of an overall approval of a $8.6 billion state spending plan for the 2013 fiscal year that takes effect July 1. Estimated cost to the state treasury is $39 million.

The measure was sent to the governor April 27. It was passed by the Senate April 24 on a 28-0 vote before heading to the governor’s desk three days later.

Intended ...