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Reduction in Retirement Interest from 7% to 5%

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March 03, 2013, 20:48
Clarissa Bauer
Reduction in Retirement Interest from 7% to 5%
Is anyone following House Bill 958? It would amend the Government Code to reduce the annual rate of interest for the Texas County and District Retirement System from 7% to 5%. Last time I looked, it had been referred to the pension committee. I'm hoping someone is tracking the bill and knows a little about its background.
March 05, 2013, 08:38
Scott Brumley
The last word I heard was that its author, Rep. Orr, is letting it go, at least for this session. But you might contact Shannon Edmonds to double-check my understanding.
March 05, 2013, 10:12
Ted Hake
A short article in the San Antonio Express reported that information the other day.