Republican Comptroller Susan Combs said Tuesday "there are some warning signs in Texas" surrounding certain public-employee pension obligations but defended the stability of the state's largest retirement funds that total $139 billion and could face calls for reform next year.
By Paul J. Weber|December 05, 2012 at 05:02 AM
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AUSTIN, Texas (AP) — Republican Comptroller Susan Combs said Tuesday “there are some warning signs in Texas” surrounding certain public-employee pension obligations but defended the stability of the state’s largest retirement funds that total $139 billion and could face calls for reform next year.
Combs, the state’s chief accountant, said the Employee Retirement System and Teacher Retirement System are in “pretty doggone good shape.” Those programs cover more than 70 percent of public employees in Texas and paid out a combined $8.9 billion last year.
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