The City of Phoenix began a pension reform process with the creation of the Pension Reform Task Force in January 2011. The Pension Reform Task Force worked with management, outside consultants, and other stakeholders. It's purpose was to comprehensively review and recommend changes to the City of Phoenix Employees’ Retirement System (COPERS).
Many other activities have taken place since then, including a November 2014 ballot initiative that proposed changes to retirement systems for Phoenix employees.
In total, actions already taken by the Mayor and City Council and the COPERS board, and approved by Phoenix voters, are expected to save a cumulative $830 million by 2038. This includes both the City of Phoenix Employees’ Retirement Systems (COPERS) or, for sworn police or fire employees, the state-managed Public Safety Personnel Retirement System (PSPRS).
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