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Texas Bill Seeks to Boost Employee, Employer Pension Contributions

The Texas House of Representatives unveiled a bill on Tuesday aimed at shoring up the funding status of its pension system. The reforms specifically target members of the Employees Retirement System (ERS), which is 76 percent funded. The bill would boost contributions to the System for both employees and employers. More details from the Texas Tribune: The ...
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Moody’s: Legal Hurdles to Reform, History of Shorting Annual Contributions Contribute to Texas’ Rising Pension Costs

A new Moody’s report says that Texas and its municipalities will face rising pension costs in coming years. The report also notes that local governments may not be able to ease those costs as legal hurdles prevent significant pension reforms. On the state level, the costs come in the form of higher contributions – at least one state-level system ...
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