Texas Public Policy Foundation’s James Quintero, director of the Center for Local Governance, issued the following statement on the passage of Senate Joint Resolution 43. The resolution proposes a constitutional amendment specifying that state government is not liable for unfunded pension liabilities accrued by local retirement systems and prohibits the appropriation of funds by the legislature for that purpose.
“Overpromised and underfunded local retirement systems ought not look to state taxpayers to bail them out if their defined benefit plans go bankrupt, and today’s action by the Texas Senate takes an important step to make sure that never happens,” said Quintero. “Local pension debt is and should remain a local matter.”
For more information or to request an interview with Mr. Quintero, please contact Alicia Pierce at firstname.lastname@example.org 512-472-2700.
James Quintero is director of the Center for Local Governance and leads the Think Local Liberty project at the Texas Public Policy Foundation.
The Texas Public Policy Foundation is a non-profit, free-market research institute based in Austin, Texas. The Texas Public Policy Foundation aims to advance a societal framework that effectively fosters human flourishing based upon cooperation and mutually beneficial exchange of ideas and speech.