February 20, 2019

Fiscal Notes: Growing Pension Liabilities Could Affect State Finances

(AUSTIN) — The Comptroller’s office examines the inner workings of Texas’ public pension programs and reports on the current outlook for their long-term viability in the February edition of Fiscal Notes, released today. Many state and local governments across the country are struggling with growing pension costs and liabilities, and Texas governments are no exception.

“While Texas hasn’t yet encountered the kind of worst-case scenario with pension costs that other states and cities have struggled to overcome, long-term trends are troubling,” Texas Comptroller Glenn Hegar said. “Any major change to Texas’ public pension system will be legislatively challenging, but action now to address shortfalls would help the state avoid the financial difficulties that have plagued other governments throughout the nation.”

Fiscal Notes is available online and can be received by subscribing via the Comptroller’s website.

The February issue of Fiscal Notes also looks at business incubators, organizations that help new companies find their footing with workspaces, investor leads and various types of professional assistance.

Fiscal Notes furthers the Comptroller’s constitutional responsibility to monitor the state’s economy and estimate state government revenues. It has been published since 1975, featuring in-depth analysis concerning state finances and original research by subject-matter experts in the Comptroller’s office.