The November 2018 general election is over and Texas is now readying for the 86th legislative session, which starts Jan. 8. Legislators have some lofty policy issues to address and may not have local public employee pensions at the forefront as was the case during the 85th legislative session in 2017.
A key economic indicator, the unemployment rate, continues to fall in the U.S. and Texas is among states showing continued job growth in September.
Texas Pension Review Board Chairman Josh McGee backed down from committing to a legislative effort to enable or require asset pooling for small pension systems. His comments, made at the tail end of the Oct. 4 PRB meeting, recognized concerns from TEXPERS Board President Paul Brown and board member David Stacy.