Even as the Arizona public pension system recovers from the rocky years of the Great Recession, a non-partisan think tank said efforts by lawmakers to move workers to a defined contribution system could cost taxpayers billion in the long run.
The Grand Canyon Institute, based in Phoenix, said switching employees from a traditional pension plan would likely cause shortfalls as contributions from employees dried up.
Keeping the public pension system solvent would require larger infusions of money from tax collections, burdening the state budget.
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