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Converting Texas Teacher Pensions to 401(k) Would Be Costly
The Austin American-Statesman Aug. 31, 2012
"Dropping the guaranteed pension benefit for Texas' future school employees would be costly, complicated and reduce benefits for retirees, according to a new study by the Teacher Retirement System of Texas. The study, mandated by lawmakers last year, states that the $110 billion teacher fund can pay the benefits it owes through 2075 but will need additional contributions from the state or members to erase a $24 billion long-term funding liability."
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