Even as local governments and the state are slashing budgets, Arizonans are propping up public-pension systems that allow civil servants to retire in their 50s, receive annuities that can exceed $100,000 a year, and collect pensions while staying on the same job, The Arizona Republic has found.
Over the past decade, government agencies have been forced to pour billions of dollars into the state's six pension systems to keep pace with continual benefit enhancements. The added cost of these enhancements has been largely borne by taxpayers as pension investments eroded amid stock-market declines.
An Arizona Republic Investigation: Public Pensions, A Soaring Burden. Day 1 of an 8 part series. by Craig Harris, The Arizona Republic.
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Seeded on Sun Nov 14, 2010 8:08 PM
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