And I agree--what happens in TX doesn't always happen in other states--
In my state the teacher retirement fund is not accessible by the legislature--it is controlled by the Teacher Retirement system and is not part of the general fund nor can the legislature withdraw any monies from it
It is rated as better performing and has better longevity than the state's own employee plan..the legislature would LOVE to take over our retirement annuity program and use it for other purposes
The state's employee retirement system is not in as good a shape as recent article shows---
https://www.texastribune.org/2017/08...rying-workers/
Note the reference to the state's persistant underfunding of this employee retirement plan as one reason it is underfunded and likely to stay that way...
Of course most cities and states' employee pension funds are underfunded because of the accounting rules which allow them to project a higher rate of return than they actually achieve...and allowed them to seem viable after they fell into underfunded status...
The article also cites the head of the employee pension board who blames a "national recession" as part of the problem---when Texas was one of the few states that saw a better reaction during the 08-09 recession than most other states--
PS the governor in 2000--was Rick Perry (GOP/friend of business) who served longer than any govenor...and we have had GOP governors since Bush won before 2000--and the legislature has been GOP that long as well--there was even heavy GOP presence when Ann Richardson was govenor...
Our housing industry was more resilient than most states, oil which was big part of economy was in full swing with lot of shale drilling and production which gave income on state-owned royalty interests to the state coffers...we had people moving TO Texas from other states with floundering economies--and believe me this state doesn't offer lot of benefits to those who can't support themselves...we also had many industries/businesses moving to Texas because of the no-income-tax status--it is a very friendly state to business--sometimes too friendly for its own good...
And article in today's FTW paper about how people in the DFW area are becoming incensed about the toll roads they are forced to use which are controlled by private companies now that the state abandoned most of its role in building/enlarging roads for public use...