Texas should adopt the defined contribution reform plan that offers state and local government workers the choice of a defined contribution retirement plan in place of their current defined benefit plans. Such a plan offers great advantages for both workers and taxpayers. Over the past 20 years, private sector employers have shifted sharply towards “defined contribution” pension programs. The number of private sector employees in such plans soared from 11 million in 1975 to 43 million in 1995, an increase of about 300%.
Liberty Action Agenda
The Liberty Action Agenda is a set of critical reforms that must be made to promote and defend liberty, personal responsibility, and free enterprise in Texas. To ensure the flourishing of Texans during the next quarter-century, we must work now toward these bold policy proposals that embody the Texas ideal. End Taxpayer-Funded Lobbying: The Texas Legislature should no longer allow local governments to...