An overhaul of Phoenix's municipal employee pension system going to voters March 12 could save the city more than $600 million over the next 25 years, supporters say.

The two-part referendum includes Proposition 201, which would increase employees' contributions to the Phoenix Employee Retirement System while reduce the city's annual contribution, and raise the retirement age, and Proposition 202, which would authorize a more aggressive investment approach by the pension system.

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