COLA beginning February 1, 2022
The cost of living adjustment (COLA) will be the maximum 2.0% beginning February 1, 2022. The COLA is equal to half of HMEPS’ net five-year investment return minus 5%, but not less than 0% nor more than 2%. The net five-year investment return on HMEPS’ investments as of the end of fiscal year 2021 is…
Read More »DROP Interest Rate for Calendar Year 2022 – Updated November 18, 2021
The Deferred Retirement Option Plan (DROP) interest rate for calendar year 2022 will be 6.2%, effective January 1, 2022. The DROP interest rate as of January 1 of each year is equal to half of HMEPS’ net five-year investment return, but not less than 2.5% nor more than 7.5%. The HMEPS net five-year investment return…
Read More »The Coronavirus: What We Are Doing, How You Can Help – Updated April 30, 2020
Staying Safe HMEPS continues to monitor conditions associated with COVID-19 (the Coronavirus), and to follow guidance on recommended measures to help ensure the health and safety of our participants, employees and others. Accordingly, HMEPS will continue to implement the following: We will continue to evaluate additional measures as needs arise, and communicate changes on our…
Read More »1.61% COLA beginning February 1, 2019
The cost of living adjustment (COLA) will be 1.61% beginning February 1, 2019.The COLA calculation is set forth in the HMEPS Pension Statute, as amended by SB 2190 in the 85th Texas Legislature. Under the amended Statute, the COLA is equal to HMEPS’ five-year investment return, based on a rolling five-year basis and net of…
Read More »Cash Balance Account Interest Rate for Calendar Year 2019
The Group D Cash Balance Account interest rate for calendar year 2019 will be 4.11% (0.16% bi-weekly), effective January 1, 2019. The rate was approved by the HMEPS Board of Trustees at the October 2018 Board meeting.The Cash Balance Account is provided under the HMEPS Pension Statute only to Group D members. Interest is credited…
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