Pension Passions Run Hot
Pensioners First – We suppose that pension money staying in the local economy is not a bad thing, but moving money from the right pocket (Arizona taxpayers) and transferring it to the left pocket (Arizona pensioners) does nothing to increase the economy. If anything, taxpayer monies paid to pensioners living out of state might actually decrease the local economy.
Public pensions assist economy
Letter to the editor 9:21 p.m. MST March 27, 2014
Public employees live in every city in the nation. More than 90 percent retire in the same jurisdiction where they worked.
The more than $175 billion in annual benefit distributions from pension trusts are a critical source of economic -stimulus to communities throughout the nation and act as an economic stabilizer in difficult financial times.
With a $39 million deficit in the Phoenix budget, this is one of those times.
Recent studies have documented that public retirement system pension ¬distributions annually generate more than $29 billion in federal tax revenue, more than $21 billion in annual state and local government tax revenue, and have a total economic impact of more than $358 billion.
— Bill Cusimano, Phoenix