DROP Interest Rate is 6.79% for Calendar Year 2014
The Deferred Retirement Option Plan (DROP) interest rate for calendar year 2014 will be 6.79%, effective January 1, 2014. The rate was approved by the HMEPS Board of Trustees at the October 2013 Board meeting. Several DROP participants have asked how the DROP rate is determined. Under the Meet and Confer Agreement, the DROP interest…
Read More »City Files Lawsuit Against the Houston Firefighters’ Relief and Retirement Fund – 1/22/2014
The City of Houston announced that it had filed suit against the Houston Firefighters’ Retirement and Relief Fund (HFRRF) to gain “the same input on contributions and plan design for HFRRF that it already has with the Houston Police Officers Pension System (HPOPS) and the Houston Municipal Employees Pension System (HMEPS).” HMEPS is not a…
Read More »DROP Interest Rate is 6.79% for Calendar Year 2014
The Deferred Retirement Option Plan (DROP) interest rate for calendar year 2014 will be 6.79%, effective January 1, 2014. The rate was approved by the HMEPS Board of Trustees at the October 2013 Board meeting. Several DROP participants have asked how the DROP rate is determined. Under the Meet and Confer Agreement, the DROP interest…
Read More »Max Patterson article “Houston’s Pension Plan Funding Holds Up Under Scrutiny”
Max Patterson, Executive Director of the Texas Association of Public Employees Retirement Systems, wrote a letter that appeared in the Houston Chronicle's August 28th edition in response to Columnist Bill King's article. The article highlighted the strong returns of the City's pension systems. Click on the following link to read the full article: Patterson: Houston's…
Read More »Houston Is Not Detroit – A Tale of Two Cities
n light of the City of Detroit's unfortunate filing for bankruptcy recently, some have asked if such a troubling event could occur with the City of Houston. The answer is almost certainly no. Indeed, a comparison of Detroit and Houston reveals two cities headed in opposite directions. Detroit is, sadly, in decline, while Houston is…
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