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Texas Two-Steps Around Retiree Benefits, Accountants Say
Bloomberg Apr. 26, 2007
Excerpt: First came the revolt by Texas, in the form of a March 1 letter sent by comptroller Susan Combs to state treasurers everywhere, calling upon them to fight the imposition of GASB rule 45. The new rule requires states and localities to report how much they owe retirees in terms of so-called other post-employment benefits, such as health care. Texas lawmakers drafted legislation making the new rule inoperative in the state.
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