To strengthen Texas by expanding awareness of public pension issues, providing high quality training to retirement systems’ decision makers and working to assure the promised benefits of public employees.
Yesterday, the Texas Senate confirmed Josh McGee as chair of the State Pension Review Board. The Senate approved the nomination with a 20-10 vote.
The vote upholds what has been a controversial appointment by Gov. Greg Abbott. Democrats, who are in the minority of the Republican-controlled Senate, were being pressured to prevent approval of McGee to continue in his role as chair of the board. The Pension Review Board oversees the actuarial soundness of state and local public retirement systems.
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The Texas Association of Public Employee Retirement Systems has released its 2017 Policy-Making Action Agenda. The informative guide breaks down the concept of defined benefit pensions into easy to understand concepts, arming you with the knowledge you need to tout the importance of public pensions to your local legislators.
By Max Patterson
TEXPERS Executive Director
Sen. Paul Bettencourt wants the public to believe that the state-wide retirement systems are in trouble because of low investment returns and that the solution will cause taxpayers to foot the bill. The truth is, statewide retirement systems and some local pension systems are underfunded because for a number of years the state and some cities did not fund the plans that they approved. These public employers now see this is a problem and some people want to blame the investment market.
11:52 AM to 12:00 PM
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