Swanky Tower Pits Teachers Against a Texas Public Pension Fund

The biggest public pension fund in Texas plans to move into what is billed as Austin’s tallest office tower. It’s turning into an enormous quarrel.

The $160 billion Teacher Retirement System of Texas is taking heat from all sides -- the lieutenant governor’s office, lawmakers and retired teachers. The focus of their ire: a $3.9 million-a-year lease to occupy three floors in the gleaming downtown building set to open next year.

A rendering of Indeed Tower.

Source: Trammell Crow Company

“The people who are paying the bills, they’re the ones who are saying: ‘Hey I taught in the hallway and you aren’t able to make this work at ...