FOR IMMEDIATE RELEASE 03/13/2015
Representative Murphy Files HB 2608 - Returns Municipal Pensions to Local Control
AUSTIN, TX State Representative Jim Murphy of Houston has filed House Bill 2608 which returns municipal pensions to local control. A companion bill is expected to be filed in the Senate today.
"The bill's concept is simple. It is about local control of expenses and taxes," said Murphy. "Why should state legislators tell local communities what to pay their employees or what to pay in taxes?"
In returning these plans to local control, key constitutional safeguards are already in place. "The pensions of those already retired are fully protected as well as the benefits earned by those still working," added Murphy. "We value the service of these men and women and are committed to securing their retirement benefits."
Most local pensions in Texas are locally controlled. HB 2608 would eliminate the special treatment some plans have been given while still mandating State oversight through the Pension Review Board, whose role is to ensure actuarial integrity in local pension funds.
"We are seeing a groundswell of support from across our state and this will grow as people become aware of the benefits of HB 2608. We appreciate this help in correcting a fundamental policy flaw that is a growing threat to both taxpayers and their valued employees," said Murphy.
State Representative Jim Murphy is serving his fourth term representing West Houston. He is chairman of the House Committee on Corrections and a member of the Ways and Means Committee.
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