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Texas Legislature 2021

Overhaul to Texas state employee pension plan unveiled and quickly advanced by state Senate committee

Senate Bill 321 would enroll new employees eligible for the Texas Employees Retirement System in a cash balance plan — similar to a common 401(k) retirement account — instead of the traditional, defined benefit pension plan.

The Texas Capitol on Feb. 1, 2021.

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Politics State government Employee Retirement System Joan Huffman