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Vote YES 487/Stop Pension Abuse
A Phoenix Librarian collected more than $286,000 as a cash payout at retirement and then started getting a $102,000 pension FOR LIFE. Retiring at 58.
Proposition 487 stops pension spiking and pension abuse SAVING taxpayers over $400 million.
The librarian above is only one example of the pension abuse at Phoenix City Hall. Unfortunately, every employee gets a similar deal.
Everyone gets cash at retirement and a pension. Yes, everyone.
Budget and Research numbers found 50 top civilian retired employees with be getting over $183 million by the time they're 75 years old. Their average retirement was 56.
The government unions are doing all they can to undermine your vote. They want to keep everything…the way it is.
Why does pension reform matter to you and your family? Phoenix passed a new water tax on you to pay for pension spiking.
Cuts in police, fire, libraries and critical programs for seniors and children will be on the agenda without pension reform. Without reform you will see more cuts and higher taxes.
What does 487 do?
* It immediately stops pension spiking. The Arizona Republic in one of their articles showed how one person was able to spike(bump) his pension from $96,000 a year to $136,000 a year for life.
*Fixes the broken pension system saving over $400 million.
* Allows current employees to keep everything they have earned.
* Makes new employees get the same retirement benefits you get. Moving all newemployees to a 401(K).
*Police and Fire are clearly excluded from the proposal.
Vote YES 487
My best to you and your family,
Sal DiCiccio
Phoenix City Council; District 6
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