WeVote
Log In

Bill

Bill

HB 2015

EORP; CORP; funded ratio

57th Legislature - First Regular Session Introduced by David Livingston

Arizona HB 2015 adjusts pension funding requirements for state employee and corrections officer retirement plans to improve long-term solvency through modified contribution or ratio targets.

Signed by Governor
0
WeVote Research Nonpartisan
Bill Summary · HB 2015

Legislative bill overview

HB 2015 addresses funding requirements for Arizona's two major public employee pension systems: the Employees' Retirement Plan (EORP) and the Corrections Officer Retirement Plan (CORP). The bill modifies how these plans calculate and manage their funded ratios—the percentage of assets available to cover future pension obligations—establishing new benchmarks or contribution requirements.

Why is this important

Public pension funding directly affects state budgets, employee retirement security, and taxpayer obligations. Underfunded pensions require larger government contributions over time, potentially crowding out other spending priorities like education or infrastructure. Changes to funded ratio requirements can either accelerate pension stability or shift financial burdens between current employees, retirees, and taxpayers.

Potential points of contention

  • Cost allocation: Whether increased contributions should come from state general funds, employee payroll deductions, or employer contributions affects both state finances and worker take-home pay
  • Actuarial assumptions: Disputes over investment return projections and mortality rates influence how "underfunded" the plans actually are and what remedies are necessary
  • Timeline pressures: More aggressive funding targets may require larger immediate payments versus gradual approaches that extend obligations to future budgets

Compiled from official sources — confirm details with the bill’s official record.

Sign in to ask a question.