News Update – September 15, 2016
HMEPS has been working with Mayor Sylvester Turner and his administration to address pension matters in a way that is mutually beneficial to both HMEPS participants and the City of Houston, and that brings about lasting reform for a sustainable retirement system. Thus far, negotiations have resulted in proposed changes that we believe provide competitive…
Read More »HMEPS Responds To Misleading Statements In TV And Radio Ads Made By Texans For Local Control
HMEPS would like to address the misleading statements being made in new TV and radio ads paid for by Texans for Local Control, an ideological, corporate-funded group. This group claims to support “local control” of the City’s pensions, but, in fact, argues only for total control by City officials who would be able to implement…
Read More »DROP Interest Rate is 2.5% for Calendar Year 2016
The Deferred Retirement Option Plan (DROP) interest rate for calendar year 2016 will be 2.5%, effective January 1, 2016. The rate was approved by the HMEPS Board of Trustees at the October 2015 Board meeting. Several DROP participants have asked how the DROP rate is determined. Under the Meet and Confer Agreement, the DROP interest…
Read More »HMEPS’ Response to Current Pension Legislation
As you may know, the 84th session of the Texas Legislature is underway in Austin. Over the next several months, House and Senate Members will consider hundreds of bills on a wide array of issues relevant to state government. You should be aware that there are bills (specifically HB2608 and HB2955) that concern us a…
Read More »HMEPS Refutes Claims In Chronicle Article
The Houston Chronicle article on 7/6/2015 (“Houston’s debt outlook downgrade a warning, analyst says”) stated, “more than 95 percent of the $130 million general fund spending increase in Parker's budget this year is swallowed by contractual payments, namely pension obligations.” We were surprised by this statement because the increase in pension expenditures attributable to the…
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