The Texas Public Policy Foundation today released a paper on public pension costs in Texas by James Quintero, director of the Center for Local Governance, and Marc Joffe, director of Policy Research at the California Policy Center. The paper,Pension Cost Burdens on Texas Cities and Counties, examines the growing costs of public pension obligations for local governments in Texas.
“Soaring public pension debt is a major challenge for some of Texas’ most well-known cities and counties. Getting a handle on this emerging fiscal crisis is an absolute must, for the sake of both retirees and taxpayers,” said Quintero. “In the short-term, policymakers should focus on restoring local control of state-governed pension plans to give Texans a voice in the process. Over the long-haul, it’s imperative that we begin to transition new public employees out of the current system and into something more modern, such as a defined contribution model, that offers both retirement security and sustainability.”
To read the full publication, please visit: http://txpo.li/pension-cost-burdens
To learn more, visit: pensions.thinklocalliberty.com
For more information or to request an interview with Mr. Quintero, please contact Caroline Espinosa at [email protected] or 512-472-2700.
James Quintero is Director of the Center for Local Governance and Think Local Liberty project at the Texas Public Policy Foundation.
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The Texas Public Policy Foundation is a non-profit, free-market research institute based in Austin, Texas.