TEXPERS Weekly Roundup: Pension, Investments, and Retirement News
Keeping Texas public pension trustees and administrators informed on key industry developments.
Texas Retirees Push for Pension Increases
For over 23 years, Texas retirees have not received a pension increase, making it increasingly difficult to keep up with inflation and rising costs. Last week, Veronica Adams, representing AFSCME Texas Retirees, testified before lawmakers, urging them to take action. She called for a 13th check—a one-time additional pension payment—as well as a cost-of-living adjustment (COLA) to ensure retirees’ benefits keep pace with economic changes.
Watch her testimony here: AFSCME Texas Retirees on X
Why It Matters
For trustees and administrators of Texas public employee retirement systems, legislative decisions on COLAs and additional pension payments directly impact retirement security. Without COLAs, inflation erodes pension value, making it harder for retirees to afford essentials. A 13th check may provide short-term relief, but a long-term COLA strategy is essential for sustainable retiree financial security.
Economic Impact of Defined Benefit Pension Spending
A recent study by the National Institute on Retirement Security (NIRS) highlights the economic contributions of defined benefit (DB) pension benefits. In 2022, retiree spending of DB pension benefits generated $1.5 trillion in total economic output, supported 7.1 million jobs, and contributed $224.3 billion in tax revenue.
The study emphasizes the multiplier effect—where pension spending directly supports local economies, particularly in rural and small communities.
Read the full study: NYSTRS Report
Why It Matters
For Texas pension leaders, this underscores the broader economic value of DB pension plans. Pensions provide consistent income that not only ensures retiree security but also stimulates local economies. Strong DB plans are economic engines, supporting jobs and tax revenues. Retirement system leaders should leverage this data to advocate for policies that protect and strengthen pension funds in Texas.
Texas Tribune Symposium: A Blueprint for Texas Cities
Date: March 5, 2025
Time: 8:00 AM – 4:00 PM Central Time (CT)
Location: Houston, TX & Online
More Information & Registration: Texas Tribune Symposium
About the Symposium
In early February, Texas researchers, policymakers, and business leaders released The Texas Metropolitan Blueprint, a five-year policy agenda focused on growth and prosperity for the state's 26 metropolitan areas, home to 90% of all Texans.
This daylong symposium will celebrate what makes Texas cities unique and explore the policies the 2025 Texas Legislature can enact to support their success over the next five years and beyond.
Key Discussion Topics:
- Housing Affordability – Addressing rising costs and expanding access
- Transportation & Mobility – Improving infrastructure and public transit
- Economic Development – Fostering business growth and job creation
- Public Safety – Enhancing emergency response and crime prevention
- Water Supply – Ensuring reliable resources for growing populations
Why It Matters
For trustees and administrators of public employee retirement systems in Texas, policies affecting economic development, housing, and public safety are crucial to long-term investment and workforce planning. Texas' urban growth and infrastructure investments can directly impact public sector employment, pension fund health, and financial stability for retirees.
Engaging with these discussions will help retirement system leaders stay ahead of legislative changes that may influence pension funds, municipal finance, and the overall economic landscape of Texas' cities.
Upcoming Actuarial Committee Meeting – Feb. 27, 2025
Location: William P. Clements Building, Austin, TX & via Zoom
Date: Thursday, February 27, 2025 – 2:00 PM CT
Zoom Link: Join Meeting
Agenda Highlights:
- Updates from Nacogdoches County Hospital District Retirement Plan
- Updates from Beaumont Firemen’s Relief & Retirement Fund
- Future meeting planning
Full agenda & details: Texas Pension Review Board
Why It Matters
This meeting provides important insights into the financial health of local Texas pension funds. Trustees and stakeholders should attend or review the meeting materials to stay informed on actuarial trends and fund performance.
Final Thoughts
Public pensions remain a critical part of economic stability, not just for retirees but for Texas communities. With increasing policy changes, investment shifts, and evolving retirement trends, trustees and administrators must stay proactive, informed, and engaged in shaping the future of public employee retirement systems.
Have insights to share? Let us know your thoughts in the comments below!