A proposal that would institute a major overhaul of the state's badly underfunded pension plan for public safety workers will be introduced in the Arizona Senate on Monday.
The overhaul is the result of months of meetings between lawmakers, pension officials, firefighter and police unions as well as cities, towns and other public agencies that pay into the system.
The issue is pressing as public agencies that pay into the system have seen their contribution rates soar to an average of 42 percent of the salary paid to each police officer or firefighter in the Arizona Public Safety Personnel Retirement System. Some are paying much more, including the city of Bisbee, which is paying 90 percent of its police and fire payroll for pensions.
Sen. Debbie Lesko, R-Peoria, led the talks and will introduce the bill. She said Friday that 25 of 30 senators have signed on as co-sponsors and she is hoping to get more. The number of House backers is unclear. Nearly all the employer and employee groups also are backing the final deal, she said.
Lesko said a major component of the deal must be approved by voters, and she's aiming to have it placed on the May 17 special election where Gov. Doug Ducey's school funding proposal is also on the ballot.