Home

April 2, 2009: Pension Plan Concern

Late last year I sent an e-mail expressing concern about pension plans.  This e-mail would pertain to persons in a state, municipal, county, firefighter, ems, police etc,.
Last summer during appropriations hearing there was some discussion about bringing all these pension funds either under the control of the state comptroller or as a "side car" to the Teacher Retirement System.
Also during transportation hearings it has been suggested that the state form the Transportation Finance Corp.
A senate bill by Senator Ogden, SB 1548, would put the Pension Review Board with expanded authority over these pension funds. I am concerned that this bill will be the stepping stone to utilize pension funds as a source for funding toll roads.
The Pension Review Board already has oversight authority of the government pension funds.
This is strictly an opinion.  However, this appears to be micro management.
This bill has been sent to the Senate State Affairs Committee, Senator Duncan is the Chair.
Duane Olney, Legislative Advissor
Texas Democratic County Chair Assn.