Bill on politicians' pensions passes Arizona Senate - Cincinnati News, Weather, Sports from FOX19 NOW-WXIX

Bill on politicians' pensions passes Arizona Senate

PHOENIX (AP) -

A bill replacing pensions for new judges and other elected officials with a 401(k)-style retirement plan has passed the Arizona Senate on the second try.

The bill failed on a 12-12 vote Tuesday but four absent Republicans were in the Senate Wednesday and it passed on a 16-13 vote.

The House already voted for the bill but a second vote is required because of Senate amendments.

If signed into law House Bill 2608 only applies to new elected officials. The Elected Officials Retirement Plan only has assets to cover about 58 percent of its liabilities and has more retirees and their survivors drawing benefits than active members.

Most judges, state legislators, elected officials at the state and county level and some city officials are in the plan.

Copyright 2013 Associated Press.  All rights reserved.

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