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The first wave hit in 2001-02 with the “dot.com” crash. Soon after, Arizona’s public-safety pension fund was battered again by another, even larger, wave with the 2008-09 “great recession.”
Getting the word out statewide about the growing liabilities of Arizona’s public-safety pension system is among the goals of a newly appointed legislative committee, says the committee’s chairman, State Rep. Noel Campbell.
With a statewide shortfall of $8.2 billion, Arizona’s public-safety pension system is in “critical condition,” according to members of a local tax watchdog group.