The high level of regulatory intervention and resulting uncertainty brought about by prior approval has become a major problem. One significant aspect to this is the lack of capital commitment to the Texas homeowners’ market.
Without True Local Control, Pension Problems Spiral
The 45th Legislature established the Texas Local Fire Fighters Retirement Act (TLFFRA) in 1937 to create local retirement systems for the benefit of full-time, part-time, and volunteer firefighters in participating cities. At the time, lawmakers intended to create a general governance structure while still “leav[ing] administration, plan design, contributions, and specific investments to each system’s...