Arizona Universities Aim To Eliminate Pensions For New Hires
February 10, 2015
PHOENIX (AP) — Arizona’s public universities want to eliminate guaranteed pensions for new employees and create their own health-benefits plan as part of a plan to further distance their operations from a state government that is consistently cutting funding.
Board of Regents President Eileen Klein says the goal is to save money now spent on pensions and health insurance and redirect those dollars to students.
The effort by Klein and the three state university presidents comes as the state’s public universities see ever-decreasing percentages of their funding coming from the state.
University employees now can be members of the Arizona State Retirement System and receive health benefits packages from the state.
An official with the American Federation of State, County & Municipal Employees says the push to end pensions will hurt employees.