The LIC Saral Pension Plan offers a guaranteed monthly pension upon retirement with a single one-time investment. This plan is designed for individuals seeking a secure income stream after retirement, offering flexibility in annuity amounts and loan facilities.
The Supreme Court of Texas has ruled against a Harris County guaranteed income program, prohibiting its launch. State law prohibits public universities from having Diversity, Equity, and Inclusion (DEI) departments, resulting in layoffs of DEI staff at the University of Texas. Harris County Judge Lina Hidalgo and organization UpTogether have criticized the Supreme Court ruling, calling it a setback for those facing financial hardship. Texas Attorney General Ken Paxton maintains that the program is unconstitutional and continues to fight against it. The Harris County Commissioners Court approved the Uplift Harris program with a 4-1 vote last year, aiming to provide monthly stipends to low-income residents.
The Texas Supreme Court has ordered Harris County to pause its guaranteed income program, which would have provided $500 monthly payments to approximately 2,000 residents. The program has been challenged by Republican Attorney General Paxton, who alleges that it violates the state constitution and is a political ploy. The court’s decision comes amid ongoing tensions between state and local leaders in the Houston area, where Democrats have gained political traction. While Harris County officials argue the program is legal and will address poverty, Paxton maintains that it is an unlawful use of public funds. The legal battle continues, with the Supreme Court set to weigh the merits of the program in the future.
The Texas Supreme Court has temporarily blocked Harris County’s guaranteed income program known as “Uplift Harris.” The program would have provided 1,600 families with $500 monthly payments. The court’s decision came in response to a petition from Texas Attorney General Ken Paxton, who argues that the program violates the state Constitution’s ban on cities and counties gifting public funds to people or corporations. Harris County officials expressed disappointment with the court’s decision, arguing that it would harm families in need.
