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What will the Fiscal Stress on Texas do to Teacher Retirement?

You may have read the Bloomberg article yesterday where Senate Majority Leader Mitch McConnell is quoted as saying he favors allowing states struggling with high public employee pension costs amid the burdens of the pandemic response to declare bankruptcy rather than giving them a federal bailout. See full article from Bloomberg here.

When brought to TACT Executive Director Chuck Hempstead's attention, he remarked, "The Texas Legislature has addressed the Teacher Retirement System during the past few budgets and it should be healthy if their investments don’t fall off a cliff. There will no doubt be fiscal stress during the next Legislative Session and it will be important for the higher education community to pull together to vocalize our needs. Other state prioritizes will have their lobbyists arguing their needs and we will be doing the same."

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