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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 [email protected] or 512-472-2700.
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