Two bills that advanced in House and Senate committees on Wednesday both exempt any lawmaker who has already taken advantage of the benefit.
Employee Retirement System
Posted in
Texas Legislature 2023
Why three longtime Texas lawmakers are now eligible for an extra $140,000 a year
A few of Texas’ most veteran lawmakers may have seen their part-time legislative compensation skyrocket from $7,200 to nearly $150,000 annually, thanks to a law passed quietly at the end of the 2021 legislative session.
Posted in
Texas Legislature 2021
Overhaul to Texas state government employees’ retirement accounts advanced out of Legislature
Senate Bill 321 would enroll new state workers in a cash-balance plan — similar to a common 401(k) retirement account — rather than the defined-benefit pension plan that current employees have.
Posted in
Texas Legislature 2021
Texas Senate approves overhaul of pension plans for new state employees
Senate Bill 321 would also authorize yearly payments to shore up $14.7 billion in unfunded pension obligations.
Posted in
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.
Posted in
State Government
Employees Retirement System of Texas lowers expectations, worrying workers
Trustees for the Employees Retirement System of Texas voted Wednesday to decrease earnings assumptions for its $26 billion trust fund, a rare move that could have major implications for the state budget and the retirement system’s beneficiaries.
Posted in
State Government
Texas state workers fear fallout from changing math on pensions
The Employees Retirement System of Texas is considering lowering its earnings assumption for the $26 billion trust fund. Labor advocates fear the move would push lawmakers to cut benefits or require current workers to chip in more.
Posted in
Economy
State employee health care fix could hurt Texas medical schools, critics say
Senators believe they have found a way to save $80 million on health care for state employees. But medical schools say the savings would come at their expense.
Posted inState Government
Senator aims to open legislators’ pension records to public
Sen. Van Taylor’s bill would let the public find out when former lawmakers with felony convictions are receiving state pensions
Posted inState Government
Texas may still be giving state-funded pension to convicted elected officials
More than two dozen former elected officials convicted of felonies may be receiving taxpayer-funded retirement pay. But state law keeps the details secret.
