Lubbock Pinches Pennies on Pension Costs, Nationwide Study Says

Lubbock spends less on employee pensions than the average of other major cities in Texas.
By James Clark

LUBBOCK, TX -- Lubbock spends less on employee pensions than the average of other major cities in Texas; and Texas cities spend less on than the national average.  That’s according to a written statement released last week by the Texas Association of Public Employee Retirement Systems or TEXPERS.

TEXPERS studied 173 cities nationwide and found that on average cities spend 7.9% of their total tax revenues on employee pensions.  By contrast the Texas average was 4.2% - just more than half of the national average.

Lubbock spent 3.2% of its total tax revenue on employee pensions according to TEXPERS.  San Antonio was the lowest Texas city on the list – spending 2.5%.  Houston was the highest at 6.2%

Max Patterson, the executive director of TEXPERS, said, “In Texas, pension expenses are not excessive when considered as a percentage of cities’ taxpayer revenues.”

TEXPERS said the employee pensions in Texas do not put taxpayers at risk the way some city pension systems nationwide have done.

“Texas cities … were among the country’s most efficient users of taxpayers’ dollars for their employees’ pensions,” TEXPERS said.


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