Texas Senate approves pension reform plan

Texas senators passed a pension reform package Monday that could cut billions in future costs.

HOUSTON - The Texas Senate on Monday passed Senate Bill 2190, the Houston Pension Solution, with a 25-5 vote.

The plan now heads to the full House for approval.

The plan is set to reduce the City of Houston’s $8.2 billion unfunded liability through future benefit reductions. If it doesn’t pass, thousands of city employees could face lay-offs.

“If we don't get pension reform, forget about adding one more police officer,” Houston mayor Sylvester Turner said last week. “Let’s start talking about how many we’re going to be saying, ‘Thank you for your service, but we cannot afford you at this point in time.’”

The House is scheduled to vote on the plan this Saturday.

© 2017 KHOU-TV


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