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In this blog I and multiple commenters have broached the subject of the suspect constitutionality of PSPRS' replacement of the old perma...

Thursday, August 16, 2012

Dollars and cents

To better illustrate the point of the previous post, the following table shows the growth in the annual required contribution that the city of Tucson must pay to PSPRS for the Tucson Police and Fire Departments:

Fiscal Year Annual Required Contribution 
Ended June 30 Tucson Fire  Tucson Police 
2003 $1,724,572  $2,991,820
2004 $2,653,025  $5,139,889
2005 $4,621,390  $7,141,031
2006 $5,100,332  $9,875,566
2007 $7,260,919  $11,594,623
2008 $9,981,531  $15,011,174
2009 $12,625,922  $19,047,609
2010 $10,905,280  $17,040,897
2011 $11,200,199*  $18,245,945*
2012 $12,271,596*  $19,318,226*
(Source: June 30, 2010 annual actuarial valuation of members reports for Tucson firefighters and police covered by the Arizona PSPRS by Gilbert Roeder Smith & Company)

This shows more clearly with actual dollar amounts, rather than percentages, the costs incurred by the taxpayers of Tucson to fund PSPRS.  This has occured as attrition has shrunk the ranks of Tucson Police and Tucson Fire over the past several years.

While active members are also paying more than they were a few years ago, it is easy to see where the bulk of the financial burden falls when PSPRS is underfunded.

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