HMEPS Heads to Austin
Yesterday, as part of the Texas Legislature’s 85th Regular Session, the State Affairs Committee of the Texas Senate met to consider Senate Bill 2190, authored by committee chairwoman Joan Huffman (R-Houston), which deals with City of Houston employee pensions and would directly affect HMEPS.
As you may know, HMEPS has been working diligently with Mayor Sylvester Turner over the last year toward a pension reform package for consideration by the Legislature. Yesterday’s Senate committee hearing was the first consideration of SB 2190, which was approved by the State Affairs Committee. It will move on for consideration by the full Senate.
Sherry Mose, HMEPS Chairman of the Board of Trustees, traveled with staff to yesterday’s Senate hearing, and spoke on behalf of our participants. Chairman Mose spoke in support of the reform structure advocated by Mayor Turner, but cautioned that the reform mechanism is untested in the real world and must be carefully monitored. She voiced support for SB 2190, provided pending modifications, and removal of the requirement of a public vote to issue pension obligation bonds.
HMEPS takes our responsibility to keep you informed about your retirement benefits very seriously. We have worked hard to achieve reforms that protect HMEPS participants for the long term. The proposed legislation largely reflects the terms of our agreement with the City, but further modifications are needed. As the legislative session reaches its midpoint this week, there is much work yet to do, and you can be assured we will keep you informed regarding important developments.