June 20, 2012 – Changing the Texas teachers’ retirement system endangers both current and future retirees, Tim Lee, executive director of the Texas Retired Teachers Association, said this week.
And he told a group of retired teachers and others nearing retirement that the system can’t continue to hold out in the face of determined assaults on it, but cautioned those who would drastically overhaul it that they aren’t “going to ruin our retirement system.”
While opponents to the state’s traditional pension scheme have lots of cash to push their agenda, the system’s proponents are armed with a zeal for their cause, he said. A DB plan offers better retirement income security than savings-type schemes, and remains the better choice, Lee told his audience.
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