KBTX - Money - Headlines

State Pensions Could Fund Toll Roads

By: Derek Shore Email
By: Derek Shore Email

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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