Chance To Say No to Turner’s Billion Dollar Pension Boondoggle and Property Tax Hike
- $8.3 billion in pension debt has already been amassed
- $668 in pension costs in a single year
- 64% of all property taxes need to pay for current to pension system
Under Turner’s proposed plan the City would: Issue $1 BILLION in new bonds without taxpayer approval
Spend 50% of the City’s property tax receipts on pensions for the next 30 years
Contribute up to 37% of employees’ salaries to pension for the next 30 years
There can be no reform without moving all new employees to defined contribution plans (such as 401k plans), like private industry did decades ago.
The citizens of Houston should have the right to vote on what kind of pension since they are the ones paying for it & the right to vote on the issuance of any bonds!
If you agree with Paul Bettencourt and Bill King, please sign the petition!!!
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