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State Pensions Could Fund Toll Roads Save Email Print
Posted: 8:27 PM Mar 26, 2008
Last Updated: 10:55 AM Mar 27, 2008
Reporter: Derek Shore
Email Address: shore@kbtx.com

A | A | A

They have always been controversial, but that hasn't stopped them from popping up all over the state. Toll roads seem to be lawmakers solution to a transportation problem.

But before those roads can start seeing profits they have to be built and that cost money. Money the state doesn't have.

Sen. Steve Ogden, said, "If we were going to construct all the roads we oughta construct its going to cost us 86 billion dollars. Well we don't have 86 billion dollars immediately."

But local state Senator Steve Ogden has an idea. Why not use state pension funds to fund the roads, and eventually those pension funds would make their investment back and then some.

"It is potentially a very good long term stable investment that could be used to do what I said is create a win-win situation in Texas," said Ogden.

But could is not the same as will. Teresa Smith is a math teacher at Blinn College. She plans to retire in the next few years and is weary of anyone touching her retirement funds.

"We hear so many people who have lost their pension for different reasons that I would want them to be very cautious and to look through this issue very carefully," said Smith.

But Ogden is confident in the investment. Not so for Teresa Smith.

"At my age I'm leary of promises like this," said Smith.

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Posted by: Jayne Location: Bryan on Mar 31, 2008 at 08:05 PM
Don't even think about using MY hard earned money for anything except returning it to me. I earned it and you don't have the right to take it for roads or anything else.

Posted by: Conservative Republican Location: College Station on Mar 31, 2008 at 09:39 AM
Steve Ogden, YOU LEAVE MY PENSION ALONE! For the first time in my life I will vote for a Democrat if you continue down this path. I just returned from a trip to Florida and their toll roads are a nightmare. I do not want toll roads here and I do not want you jacking with the pensions of state employees. People should always remember that politicians are like a crack addict. The crack addict is addicted to crack and the politician is addicted to the power and perks that come from being in public office. Both the politician and crack prostitute will engage in unspeakable acts in order to fuel their addiction. Remind this addict that he will pay for this mistake at the ballot box on election day if he does not stop this nonsense.

Posted by: scott Location: austin on Mar 30, 2008 at 08:41 PM
I am trying to figure out if this is brazen Republican posturing, absolute brilliance, or modern day Texas style version of "A Modest Proposal*" (*young folk - Google it). The hope that springs eternal in the human breast says he has been struck with some epiphany that has propelled him beyond the willfull ignorance of his and all known political parties. I know little about this man and I think he should shead some light on my submision. Please advise.

Posted by: Anonymous Location: Bryan on Mar 29, 2008 at 03:27 PM
Senator Ogden keep your hands off of my retirement. It is for RETIREMENT...Not for your pleasure and pet projects!!!!!!!

Posted by: Anonymous Location: ANDERSON on Mar 28, 2008 at 10:56 PM
Sen. Ogden is a oil man. Retirement is easy. VOTE THIS ROCKET SCIENTIST OUT.

Posted by: john Location: College Station on Mar 28, 2008 at 03:43 PM
"Before having knee jerk reactions to this question, we should at least listen to his reasoning." I have listened to his reasoning: "We blew it when we passed HB 3588, which virtually guarantees a single foreign company the contracts which in turn guarantee those investors enormous profits (at the expense of Texas residents, BTW). And since we couldn't get around Perry's veto to rescind that mistake, we might as well try to invest in it and get a little of the funds back." The only way I'll vote for him is if his opponent is worse, which IS possible...

Posted by: Cathy Location: Work on Mar 28, 2008 at 09:18 AM
What and IDIOT!! Just another way to steal our money. Please VOTE this man out. He is messing with the wrong people, TEXANS

Posted by: JEAN Location: COLLEGE STATION on Mar 28, 2008 at 08:49 AM
EVERY GROUP WANTS A PIECE OF THE TRS MONEY. IT IS ONE OF VERY FEW PENSION FUNDS THAT HAS REMAINED FISCALLY SOUND. THAT MONEY DOES NOT BELONG TO THE STATE. THE STATE DOES HAVE A RESPONSIBILTY TO SEE THAT IT IS INVESTED WISELY. WE TEACHERS DO NOT WANT OUR TRS FUNDS FOLLOWING THE PATH OF SOCIAL SECURITY FUNDS. THIS IS A TERRIBLE IDEA.IT SHOULD BE PUT IN FILE 13, ALONG WITH MOST OF THE IDEAS OUT OF AUSTIN. I HOPE THAT THE DISTRICT VOTERS WILL REMEMBER MR.ODGEN AND VOTE FOR HIS OPPONENT. MR. ODGEM: NO! NO! NO!

Posted by: Betty on Mar 27, 2008 at 10:52 PM
As a state retiree, I am appalled at Mr. Ogden's suggestion. I contributed a MANDATORY 6% of every hard earned dollar to the Employees Retirement Fund. And the funding of toll roads in the state is not my idea of responsible handling of entrusted moneys. This is NOT a good idea for state employees, retirees, or the traveling public. Don't mess with Texas? Don't mess with our money!

Posted by: Anonymous on Mar 27, 2008 at 09:02 PM
OGDEN NEEDS TO FIND A NEW JOB. VOTE HIM OUT.

Posted by: will Location: bryan on Mar 27, 2008 at 08:36 PM
OGDIE OUT,OGDIE OUT,OGDIE OUT.OGDIE OUT..

Posted by: William Location: Centerville on Mar 27, 2008 at 08:24 PM
This won't be the first dumb proposal Sen. Odgen has proposed. Has the man been sipping a little too much of Grandma's receipe?

Posted by: Registered Voter/ State Employee Location: College Station on Mar 27, 2008 at 07:44 PM
Steve, don't even think about it. If you continue with this YOU will pay for the toll roads at the Ballot box on election day.

Posted by: Carl Location: Gehring on Mar 27, 2008 at 07:34 PM
I suggest Steve use his retirement and his friendly politicians retirements along with BIG OIL's profits to pay for his toll roads.

Posted by: Longtime Taxpayer Location: Bryan on Mar 27, 2008 at 07:18 PM
I have always found Senator Ogden to be a very reasonable, conservative man. Before having knee jerk reactions to this question, we should at least listen to his reasoning.

Posted by: Joe & Donna Location: Caldwell on Mar 27, 2008 at 06:26 PM
This is crazy! Can you say Enron?? Senator Ogden needs to go back and rethink this. We can't believe he would even suggest it.

Posted by: Michael Location: College Station on Mar 27, 2008 at 05:32 PM
If Sen. Ogden and the other's in Austin not only want us to pay on the road but also to pay to build them. I say the votes of Texas should help these people find other lines of work as soon as possible. It's long over due that those we vote into office should listen to us, not the people who want to make money off us!!

Posted by: Judy Location: Bryan on Mar 27, 2008 at 04:38 PM
We all know the state of our social security pensions and this is a prime example of how it got that way. The state needs to clean up it's own budget and leave other peoples money alone. I vote NO NO NO!

Posted by: john Location: College Station on Mar 27, 2008 at 04:07 PM
Complaining here doesn't help much; If you google "Steve Ogden", you can get his email in case the included link doesn't post correctly(http://www.ogden.senate.state.tx.us/#form) and express your opinion directly.

Posted by: will Location: c s tx on Mar 27, 2008 at 04:00 PM
Is Steve Ogden from Arkansas, is the air down to heavy for your brain????

Posted by: billy Location: navasota on Mar 27, 2008 at 03:55 PM
When is the next election for Ogden, I will vote against him just for having this no-brain idea...please join me.

Posted by: Cindy Location: College Station on Mar 27, 2008 at 03:29 PM
I hope he never plans to run again because he will never be re-elected after this!

Posted by: Barbara on Mar 27, 2008 at 02:57 PM
I agree completely with Ms. Smith. First of all why do we need MORE roads anyway ? To make it safer for all ? The roads don't kill - the drivers do. More money needed ? Learn how to budget like the rest of us with all the increased cost of living now, and not use everyone elses' money that they have worked for and some that are looking forward to retirement now. I worked for the state for 24 years and I feel like I EARNED my pension, so what is Mr. (or should I say MASTER Ogden) proposing - another Enron example ? Haven't enough people lost their income through loss of jobs ? Come on down to OUR level and live on a budget. Possibly the State needs to take a closer look at the productivity of the entire State of Texas and make some adjustments THERE first !

Posted by: Janet Location: my house on Mar 27, 2008 at 02:48 PM
I hope everyone remembers Senator Ogden when he up for reelection. He will certainly not be getting my vote. The state workers should not have to carry the burden of uncertainty on their shoulders. How about the Senator & Governor Perry give up their salaries for the rest of their terms, or use their own pension money. Give the hard working state workers a break!!!!

Posted by: c.n. Location: kurten on Mar 27, 2008 at 02:32 PM
sen. ogden should remember the adage "If it sounds too good to be true, it probably isn't." He says the investment will "eventually" show a return. 10 years? 20? 30? Most of the people in the fund probably won't be here.

Posted by: Don Location: College Station on Mar 27, 2008 at 02:10 PM
Does the mature Senator not know why Social Security is failing??? Or perhaps he isn't vested in Social Security. What happened to all the funds coming from the lottery? I vote no, no, no!!!

Posted by: Concerned Voter Location: B/CS on Mar 27, 2008 at 12:24 PM
To Steve Ogden, KEEP YOUR HANDS OFF MY TEACHER RETIREMENT MONEY!!! Take the money from your own retirement account!

Posted by: Catherine Location: Bryan, TX on Mar 27, 2008 at 12:21 PM
I am appalled that Senator Ogden would even suggest amending the State Constitution to allow pension funds to be used to fund highways or anything else (as I am sure all 19 million state retirees would be). He should be removed from the State Senate. There is no money for roads due to fiscal mismanagement by the State of Texas legislature. State retirees have not received a raise in 7 years; however, we are happy at least to have our state pensions. His idea would leave all retirees with sleepless nights. The recent stock market problems already make us nervous as that can impact pension investments. His suggestion is outrageous to say the least.

Posted by: Eugene Location: Huntsville on Mar 27, 2008 at 12:14 PM
ludicrous-remember the mispent lotto funds, remember the mispent Parks & Wildlife funds - both of these funds went broke after legislators changed the law so that dedicated funds to both departments could be used elsewhere- now our parks are a mess and of course we all know about the school money status. The money not only would probably never be repaid, but show me an honest politician who really has the state employees benefit in his mind and I'll show you one not in office. They will promise everything and deliver nothing but hot air.

Posted by: Bobby Location: College Station on Mar 27, 2008 at 12:14 PM
I heard this morning driving to work that we have to work 5 1/2 mths to pay the gov't. Now you want to use these hard working folks state pension plan that's not 100% guaranteed full return (to pay more money)to drive on the roads? It sure would be nice for just one politician to stand up for the average working class citizen. I agree with the other comment - let's all make sure we remember this the next time Steve wants to run for office!

Posted by: Teresa on Mar 27, 2008 at 11:14 AM
Let Ogden invest the big pension he makes in the toll roads! Good Grief!

Posted by: Robert Location: Centerville on Mar 27, 2008 at 10:52 AM
Let Senator Ogden use HIS retirement to fund the toll roads. I am a retired teacher and I do not want my retirement touched. With the price of gasoline going up we are not going to need any toll roads anyway.

Posted by: D. Location: College Station on Mar 27, 2008 at 10:25 AM
What has Ogden been smoking?

Posted by: watch dog Location: c s tx on Mar 27, 2008 at 10:14 AM
wouldn`t this be decided by a vote(election) like mr ogden job. i vote AGAINST on both ! !

Posted by: Alex Location: Bryan on Mar 27, 2008 at 08:58 AM
Why don't you just stop immigration - especially illegal immigration. It would reduce this need for roads. Problem solved and you don't have to raid people's pension or sell our infrastructure to foreigners.

Posted by: sharon Location: bryan on Mar 27, 2008 at 07:49 AM
regarding using state employees pension fund for roads... NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO

Posted by: John Location: College Station on Mar 27, 2008 at 06:31 AM
So now we see the rest of Perry's plan; Since TxDoT can't be run "for Profit", the politicos turn the roads into cash cows by contracting them out to private agencies then have the State bankroll the privates, with Cintra, Perry, and the fund administrators raking off a cut of the profits being sheared from the sheep (AKA driving public). But hey, since a buck or maybe 2 out of the 5 dollar toll you'll be paying to drive to Huntsville is actually going to pay somebodies retirement, it's a win-win situation; the only loser is the public.

Posted by: Cecelia Location: Bryan on Mar 27, 2008 at 12:50 AM
I don't blame Smith for worrying about her pension. We often hear about people losing their pensions and savings, etc. because of risky deals and corruption. I don't trust this plan at all. I'm getting a tiny teachers pension and I sure couldn't make it if I were to lose it. I'm not in favor of toll roads either. It's amazing to me why we had money for roads and other things that we need, and all of a sudden, there is no money for things that are needed. And still we hear of millions and billions of dollars being spent on wasteful things. Good luck to Smith and all the others who are planning on retiring and those who have already retired. Better save every penny you can while you still have a decent salary. Everything goes up while your income goes down after you retire.

Posted by: Tom Location: College Station on Mar 26, 2008 at 10:22 PM
From what I understand, the Teacher Retirement System is one of the most financially sound funds in the country. Toll roads are extremely controversial and may not pay for themselves. I am retired. The retirement funds are intended to pay for our retirement, not build roads. Too many people are depending on this. The State of Tx should leave our retirement funds alone and leave the investing to the experts.

Posted by: Rebecca Location: College Station on Mar 26, 2008 at 10:20 PM
It is a horrible idea. No one has the right to touch someone else's pension plan, I don't care what the reason or need is. Those people work hard and that money is theirs. If Mr. Ogden wants to fund the building of a road and then make people pay to use it - he should use his own company and resources to do it. I personally would never use a toll road. I pay taxes up the wazzu that are supposed to fund the highways and road construction. Where does that money go? The government has been trying to get their greedy little hands on pension plans for years. They see it as found money. I am surprised the Mr. Ogden - a Republican - would even consider this idea. I may have to re-think who I vote for next time he is up for re-election.

Posted by: Kelly Location: Caldwell on Mar 26, 2008 at 10:19 PM
As a teacher, I feel that the TX state government has taken enough away from us already. Please do not allow them to do this to us. Put yourself in educators shoes, would you want your retirement money allocated like this. If the govt continues to treat teachers with such disrespect & callousness, soon there will be no teachers left to teach your children. Especially good ones. This is not a decision that should be made by voters or legislators, it should be made by those whose pensions will be affected. Leave our retirement alone please.

Posted by: ronny Location: Shiro on Mar 26, 2008 at 10:14 PM
Thanks Steve for volunteering my retirement funds for investment.I have a better idea..How about using the politicians retirement fund first and see how it works out.Oh,by the way Steve, thanks for being so vocal in your opposition of the trans-corridor.You really stuck your neck out for rural Texas

Posted by: Bill Location: Bryan on Mar 26, 2008 at 10:10 PM
Senator Ogden has not supported Texas teachers in the past and now he wants to take away their pensions to fund the construction of toll roads? What is he still doing in office. I sure hope we remember his hair-brained idea when it comes time to vote.

Posted by: Shane Location: College Station, TX on Mar 26, 2008 at 10:08 PM
This is ludicrous. With all the problems created by legislators "borrowing" money that is not theirs from things like Social Security and Medicare, how could you possibly think that the holders of these pensions would stand for this? I can't even fathom the thought process that lead a state senator from a district with so many state employees to come up with such an idea.

Posted by: TAX PAYER on Mar 26, 2008 at 09:37 PM
PLEASE LISTEN CLOSELY SEN.OGDEN I HOPE THE CONTRACTORS ARE PAYING YOU WELL BECAUSE IF THIS HAPPENS YOUR JOBS IS GONE.

Posted by: Jon Location: Bryan on Mar 26, 2008 at 09:21 PM
Once gov't officials stick their beaks into the employee pension funds, they will never stop. Look at the federal retirement program that was originally never to be used for anything except retirement payments. Then LBJ pushed thru legislation allowing access to the funds to help pay for the Vietnam War - and the federal gov't has never stopped "borrowing" from it. Now it's going broke. Gov't employees (law enforcement/teachers/ etc.) stay in gov't work for the benefits because the pay is not that great. They deserve to have their guaranteed pensions protected. Senator Ogden, please keep your hand out of this cookie jar. These cookies are not for you.

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