Texas Insider Report: AUSTIN Texas HB 2432 will secure individual personal information protect the public interest and ensure the financial integrity of the fund both for current and future members said State Representative Jim Murphy as he presented HB 2432 in the House Committee on Pensions. HB 2432 addresses key issues affecting pension systems that are currently not governed at the local level.
My joint authors and I are a bipartisan group of legislators from across the state who are equally concerned about the employees who depend on these pensions and the taxpayers who fund them Murphy said.
- HB 2432 calls for transparency of pension funds and gives taxpayers the ability to see how their contributions are being managed.
- HB 2432 will strengthen Texas pensions systems by providing an ethical framework for governing bodies and prohibiting the practice of spiking.
- This will ensure that the pension system of Texas is sustainable for its beneficiaries and tax payers as well protect future members retirements.
