Welcome to the HMEPS Publications section of the website. Here you will find links to HMEPS publications. These include the most recent Benefits Handbook, Pension Press newsletters, Informational Pamphlets, Actuarial Valuations, Annual Reports and Reports to Participants.



The files below require Adobe Acrobat for viewing. You can download Adobe Reader for free by clicking the icon:


Benefits Handbook

Informational Pamphlets

Actuarial Valuations

Annual Reports

Fact Sheets




Archived Pension Press Newsletters















What is the difference between “defined benefit” pension plans (like HMEPS), and “defined contribution” plans?  Which are better?  Which are cheaper?  Should pensions be “reformed?”  These questions are far too important to analyze with anecdotes, or to debate with soundbites.  HMEPS Manager of Policy and Financial Planning, Steve Waas, CFP®, EA, has collected some helpful articles and websites for those interested in learning more.

Gauging the Burden of Public Pensions on Cities

Are pensions driving city fiscal woes?  This report shows that for the vast majority of US cities the answer is “no.”  A few have serious fiscal problems, but the main culprits there tend to be fiscal mismanagement and/or weak local economies.

Why Pensions Work, by Steve Waas, CFP® , EA

Saving enough over a career to finance a retirement is a much bigger challenge than most people realize.  This two-page paper discusses the importance of combining both defined benefit and deferred compensation plans in order to succeed.

The Good News About Pensions, Rhonda Smith, Executive Director

Pensions have been in the news quite a bit recently all over the nation. In this article, HMEPS Executive Director Rhonda Smith discusses some important items that are often left out of the news accounts.

Strengthening State and Local Government Finances: Lessons for Negotiating Public Pension Plan Reform

This report analyzes how five public pension systems, including HMEPS, managed to significantly improve their financial situations over the last several years.

Comparing Compensation: State-Local Versus Private Sector Workers

This report analyzes the compensation of public and private sector employees and finds that state and local government employees earn less than private sector workers with similar jobs and education.

Analysis of Defined Benefit Plan Efficiency, by William B. Fornia, FSA

This report looks at three Texas pension plans (including HMEPS) to compare the costs of the DB approach with a hypothetical DC approach and finds that a DB plan can provide the same level of retirement income at almost half the cost of a DC plan.

You and Your Pension: A Powerful Combination

Don't be surprised if efforts are made in the 2015 Texas Legislative session to weaken defined benefit pension systems or even to replace them entirely with 401(k) style defined contribution plans.  This article reviews some of the things you need to know about this important issue.

HMEPS Fact Sheets:

Each of these documents provides a brief overview of the given topic.



Houston Municipal Employees Pension System

All rights reserved © 2018

Houston Municipal Employees Pension System

1201 Louisiana, Suite 900

Houston, Texas 77002



toll free. 800.858.1450

fax. 713.650.1961