Sunday, January 22, 2012

Houston businessman has his sites set on stripping state employees of their pensions

Bill King

By Doug Glass, Backgate Website

Bill King, a Houston businessman, wants to see Texas state workers lose their pension plans and replace it with a 401K type system. Wealthy businessmen don't just step in to state business without some sort of benefit in the deal do they ? Investors stand to make millions if a 401K plan is shoved down the throats of state of Texas employees such as Teachers, Prison employees, DPS, and all other state agencies. Immune to the change would be state judges and legislators.

King stated "I think the state needs to get the hell out of this (pension) business completely,"  Bill King  has formed " Texans for Public Pension Reform" with others from the Greater Houston Partnership, an ├╝ber-chamber of commerce with business members representing $1.5 trillion in assets.

King said the campaign is in its infancy, and its specific goals are still being developed. It's not clear how the campaign will get involved in next year's elections or the 2013 legislative session, but King said he is confident the campaign will soon make pensions an issue for lawmakers. King said he would support a constitutional amendment eliminating public pensions in the state and moving all government employees to retirement accounts akin to 401(k)s. Legislators would have to approve such an amendment on the ballot when they convene in 2013.

Call, email or write your local legislator immediately and tell them your not having it !  

 Correction: The Backgate posted that Mr. King possibly had ties to the Enron debacle some years back. We retract that statement as we have not seen the documentation proving such statement to be factual at this point. We have offered Mr. King to provide a statement in response to this story to be posted in this forum. We are awaiting his response.


  1. Well I guess TDCJ will be losing more employees. They think it's hard getting correctional officers now, just wait until this goes through!!!! Why stay with a low paying state job if there are no decent benefits?
    Stay tuned for more great updates!!!

  2. The ONLY reason I've stayed with TDCJ for almost 30yrs is because of the pension I'll get when I retire. PERIOD. The pay is below par compared to most other law enforcement jobs. If they do away with the pension it will be near impossible to fill the positions needed to run the units. It's already so difficult they have to hire immigrants who can't speak English, and have to be helped at preservice and inservice to pass their tests. It's sickening to see just how low the agency has gotten with their hiring practices.

    1. This is so true.To all the smart folks in Huntville like Brad and Stephenson and Thayler or what ever their names are,please figure out what the answers are to the problems that plague us.You are only there by the grace of God and the asses you stuck heads up.This from a 30 yr. vetran.

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  4. This is what happens when GOPigs get involved in politics. They want to cut, cut, cut when the state clearly needs to raise taxes. If you voted GOPig, then you have nobody to blame but yourself. In other words, if you voted for these pigs, you get what you deserve. I'm sure this if this business-maggot was present at the sealed talks with Enron at the start of the Bush Administration. Why haven't those minutes come to light? Yes, failing to raise taxes is the song of a fool, particularly when teachers are being fired.

    1. Why yes, why don't we raise taxes and kill an already sick economy. Demonrats would do much better huh.

    2. Whatever, yellow dog.

  5. Democrats doing better? No, I doubt it. I can't stand either party. What is the lesson here? Don't whore yourself out to corporations if you're in politics. What am I thinking? I must be delusional.

  6. I just started my so called career with TDC. Looks like I'll be moving on.

  7. Agreed, most only work here for the benefits. Would this alter my plans? Tomorrow!

  8. I wonder how many more lay offs state employees will experience after this debacle.

    . .

    Perry presidential security cost taxpayers $800,000 Nati Latest local news »

    More on »
    Texas taxpayers were billed almost $800,000 in travel costs for a security detail to travel with Gov. Rick Perry largely on out-of-state events tied to his presidential campaign from September through November, state figures show.

    Most of Perry's 48 out-of-state destinations were to the early primary states of Iowa, New Hampshire and South Carolina, according to a report released late Thursday by the Texas Department of Public Safety, which provides security when Perry and his wife, Anita, travel.

    For security reasons, DPS does not reveal how many troopers accompany the governor or how far in advance they arrive at Perry's destination.

    The DPS report listed only broad categories of expenses for airfare, food, lodging, fuel and other expenses.

    A September trip to South Carolina, Iowa and back to South Carolina, for example, led to $45,122 in payments, including $10,834 for hotels and $7,526 for food, for the executive protection detail, the report showed.

    Including security for six in-state trips, travel costs for Perry's security detail totaled $798,031 in the state's first fiscal quarter, which began in September.

    That number could rise, a DPS statement said, as unpaid invoices from vendors and reimbursement claims from troopers are settled. As-yet unpaid expenses will be reflected in late reports, the statement said.

    Earlier this week, the chairwoman of the House Democratic Caucus, Rep. Jessica Farrar of Houston , urged Perry to repay the security costs, saying tax money should pay for essential services such as education and disaster relief, not failed presidential aspirations.

    "Unnecessary government spending is not just morally wrong, it is criminal," Farrar said in a letter to Perry.

    Perry's office responded by noting that Perry's campaign, not taxes, paid for the governor's political travel.

    "Gov. Perry is governor no matter where he goes, and the Department of Public Safety has a policy of providing security for governors and their families everywhere they travel, as they have back several administrations. These policies are determined by DPS and not the governor's office," Perry spokeswoman Lucy Nashed said in a statement.; 912-2569

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  9. I agree Sam. Perry should reimburse the state. Any money used on the campaign trail should have come from his campaign coffers. The taxpayers should NOT have paid for any of his travel security, as it was not a necessary function of his current position.

  10. yall will not do a damn thing.yall have been gettin the shaft for years.What are yall going to do go on strike?

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