“The Texas Public Policy Foundation applauds the Texas Comptroller’s latest report on state and local government public pension systems. This informative and comprehensive review of Texas’ retirement systems provides policymakers and the public with a significant amount of new data and analysis with which to make intelligent decisions about the direction and stability of Texas’ public pension systems.
“While Texas’ state and local government retirement systems, with a few exceptions, are currently in relatively good standing, today’s tumultuous times demand that a watchful eye is kept on their size and cost so as not to endanger the promises that were made to the current and future employees. The sustainability of these systems is of the utmost importance, which is why it is critical that the Legislature enact good government reforms now. Chief among these reforms is the need to transition the state out of a defined benefit model and into a defined contribution plan as TPPF’s past research authored by Dr. Arthur Laffer and Associates, has shown.
“In addition, the Foundation r encourages the Legislature to improve accountability, transparency, and efficiency in Texas’ state and local governments. With these reforms in place, the Legislature can help strengthen taxpayer trust in our institutions and deepen our understanding about the fundamentals of Texas government.”
The Honorable Talmadge Heflin is Director of the Center for Fiscal Policy at the Texas Public Policy Foundation. Heflin served 11 terms in the Texas House of Representatives and chaired the House Appropriations Committee in 2003, leading the Texas Legislature’s successful efforts to close a $10 billion budget deficit without a tax increase.
The Texas Public Policy Foundation is a non-profit, free-market research institute based in Austin.