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Texas Senate approves pension overhaul bill

Posted On: Apr. 29, 2021 10:03 AM CST

The Texas Senate on Wednesday approved a measure that would enroll new state workers in a cash-balance plan rather that the state’s traditional defined benefit plan, the Texas Tribune reported. Under the measure, which heads to the Texas House, workers hired after Sept. 1, 2022, would be enrolled in the cash balance plan.

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