State committee proposes 4 ways to solve Texas-sized pension problem
In 2014, $196 million in the Dallas’ police and firefighter’s retirement fund was lost due to risky investments. Houston is up against a shortfall of roughly $10 billion for its own pensions. Austin ranks in the top 15 United States cities with the largest pension liabilities, according to a report from Moody’s. Texas’ largest cities have a major pension problem. To develop a plan of attack against these financial woes, Texas House Speaker Joe Straus, R-San Antonio, assigned the Committee on Pensions to study the implications of these problems in between now and the last session.
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Source: Community Impact- Round Rock