2012 Pension Reform Task Force
These documents are related to the Pension Reform Task Force Mayor Greg Stanton appointed in 2012 to study changes to the pension system.
Pension Reform Special Election Results
Phoenix voters went to the polls on March 12, 2013, to vote on three issues - two relating to pension reform and amending the Phoenix City Charter. The results were accepted by the Phoenix City Council at a canvass of vote on March 20, 2013.
Proposition 201 - Reform of the City of Phoenix Employees’ Retirement Plan
Yes – 71,086 (79.54 percent); No – 18,284 (20.46 percent)
Proposition 202 – Reform of Investment Standards, Legal Status, and Funding Provisions for the City of Phoenix Employees’ Retirement Plan
Yes – 68,029 (77.17 percent); No – 20,130 (22.83 percent)
The Arizona Governor's Office approved these charter amendments in June 2013.
About the Pension Reform Task Force
The Pension Reform Task Force and its members were appointed by the Mayor and City Council in January 2011 to work with management, outside consultants, and other stakeholders to review and recommend changes to the City of Phoenix Employee Retirement System (COPERS). The task force met several times and made its recommendations to the Mayor and City Council on Feb. 14, 2012. The task force was sunset on Dec. 11, 2011.
The task force reviewed comprehensive information on the pension system, including:
- Prior studies and audits of COPERS
- City Charter investment restrictions
- Annual financial reports
- 2010 Actuarial Valuation Report
- History of changes to the City Charter pertaining to COPERS
- Examples of sick leave and vacation leave impact on pension
- A benefit formula overview
- Monthly and annual benefit payments
- Arizona constitutional provisions pertaining to public pension systems
- Benefit provisions of the Arizona State Retirement System and the Public Safety Personnel Retirement System
- Selected changes to public pension systems from across the country
- Data compiled by the U.S. Department of Labor Employee Benefits Security
Additionally, a pension consulting services vendor, The Segal Company, and a legal consultant, Littler Mendelson, were selected to study the city's pension plans and to advise the city on legal issues, respectively. View Pension Reform Task Force Recommendations