PHOENIX (AP) - A plan championed by Arizona House Speaker Andy Tobin would eliminate pensions for new elected officials and judges and replace them with 401(k) style retirement plans.
The bill introduced Thursday makes good on a promise Tobin and fellow Republican Rep. Phil Lovas made earlier this year.
The proposal will not impact current elected officials or judges. New officials would instead be able to enroll in the new plan.
A similar bill is expected to be introduced in the Arizona Senate.
Superior Court judges have said changing the retirement system could discourage highly qualified lawyers from serving on the bench.
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AP photo
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