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%.
Don’t Fence Me In: Reggie’s Story
DEL RIO—Reggie’s life has revolved around opportunity—seeking it all over America, and eventually creating it for himself, in response to the needs of his neighbors. He’s back in Del Rio now—where he belongs, he says. He runs a medical transport company (staffed by licensed EMTS and paramedics), something many of the elderly South Texas depend...