Ducey Signs Arizona’s Corrections Officer Retirement Plan Bill

Governor Ducey has signed SB 1442, a bill intended to repair and reforms Arizona’s Corrections Officer Retirement Plan (CORP).

The pension plan is currently broken, funded at only 53%. In the past 15 years, the employer contribution rate has grown from 3.2% to 18.2%, a 600 percent increase.

The current pension plan uses a Permanent Benefit Increase (PBI), which experts have concluded has a systemic flaw, that decreases funding, threatening its solvency. SB 1442 and its accompanying constitutional amendment (SCR 1023) replaces the broken PBI with a predictable, pre-funded Cost of Living Adjustment (COLA). This adjustment follows inflation with a 2% cap and provides certainty of retirees.

Representative Vote Representative Vote Representative Vote Representative Vote
ALLEN J Y ALSTON Y ANDRADE Y BARTON Y
BENALLY Y BLANC N BOLDING Y BOWERS Y
BOYER NV BUTLER Y CAMPBELL Y CARDENAS Y
CARTER Y CHÁVEZ Y CLARK Y CLODFELTER Y
COBB Y COLEMAN Y COOK Y DESCHEENIE NV
ENGEL Y EPSTEIN Y ESPINOZA Y FARNSWORTH E Y
FERNANDEZ Y FINCHEM Y FRIESE Y GABALDÓN NV
GONZALES NV GRANTHAM Y HERNANDEZ Y JOHN Y
KERN Y LAWRENCE Y LEACH Y LIVINGSTON Y
LOVAS Y MARTINEZ Y MITCHELL Y MOSLEY Y
NAVARRETE Y NORGAARD Y NUTT Y PAYNE Y
POWERS HANNLEY N RIOS Y RIVERO Y RUBALCAVA Y
SALDATE Y SALMAN N SHOOTER Y SHOPE Y
STRINGER Y SYMS Y THORPE Y TOWNSEND Y
UDALL Y UGENTI-RITA Y WENINGER Y MESNARD Y