Over the years, a number of different local retirement systems have lobbied the legislature to put some or all of their pension plans in state law. By locking in certain elements of their plan in statute, these systems have all but locked-out community stakeholders, at least those without the right political connection in Austin.
But time may be running out for this rigged system.
Already, legislation’s been filed in the Senate to restore local control of local retirement systems and just yesterday the Governor’s Budget for 2018-19 included a strong, straightforward call for getting state government “out of the business of micromanaging local pension decisions” with the goal of empowering local leaders to have greater oversight and discretion. If this idea successfully makes its way through the legislative process, it’ll mark an important milestone on the road to recovery.