Texas comptroller sees ‘warning signs’ for public pensions but says biggest funds are stable (Dallas Morning News)

December 4, 2012 – 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. Critics seeking pension reforms have pointed to municipal bankruptcies in California that were partly driven by pension obligations.

Link to Full Article: http://www.dallasnews.com/news/state/headlines/20121204-texas-comptroller-sees-warning-signs-for-some-public-pensions-but-says-biggest-state-funds-are-stable.ece

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