Sears is struggling. The company's CEO told investors that he has doubts the company can survive.
Arizona Petition Could Affect Public Employee Pensions
“We'll have this year's numbers fairly soon,” Cannella said. “We closed the books recently, obviously. And now they're doing the calculations. It'll probably be right about there, maybe a little bit lower.”
Cannella says the system does not expect to be underfunded until at least 2021. Miller's initiative would also eliminate pensions entirely for future elected officials. He has until July 3 to collect 172,800 or more, valid signatures to put the measure on the ballot next year.