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SB 1504

PSPRS; service requirement; cost-of-living adjustment

57th Legislature - Second Regular Session Introduced by David Gowan

SB 1504 modifies Arizona's public safety pension system's service requirements and cost-of-living adjustments, affecting retirement benefits for police and firefighters.

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Bill Summary · SB 1504

Legislative bill overview

SB 1504 modifies Arizona's Public Safety Personnel Retirement System (PSPRS) by adjusting service requirements and implementing cost-of-living adjustments (COLA) for retirees. The bill appears to address how pension benefits are calculated and adjusted over time for public safety employees such as police officers and firefighters.

Why is this important

PSPRS is a major pension system affecting thousands of Arizona law enforcement and firefighting personnel, and changes to service requirements or COLA mechanisms directly impact retirement security for these workers and long-term state budget obligations. Adjustments to these formulas can significantly affect both retiree income and taxpayer-funded pension liabilities.

Potential points of contention

  • Cost to the state: COLA increases or more generous service credit calculations could increase unfunded pension liabilities and state appropriations to PSPRS
  • Equity between workers: Changes may create different benefit structures for employees hired before versus after implementation, potentially creating fairness concerns
  • Fiscal sustainability: Policymakers may debate whether modifications adequately balance retiree needs against long-term fund solvency and taxpayer impact

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

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