Pension System Doesn't Need Fixing, But How About Those School Finances ?

Albanese, Elizabeth
March 2006
Bond Buyer;3/30/2006, Vol. 355 Issue 32350, Special section p36
Trade Publication
The article provides an overview of the fiscal condition of Texas. The Texas Employees retirement System has a total asset worth $21.3 billion and unfunded liabilities of 4 percent. Meanwhile, the pension system is determining the effect of the reporting rule 45 established by the Governmental Accounting Standards Board which require governments to report to taxpayers and bondholders who hold state debt the current costs and future obligations of paying for the health care of retirees.


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