NEWS ARCHIVES: 2014
City Commissioned Pension Report Ignores a Decade of Reform
At a recent City Council Budget and Fiscal Affairs Committee meeting, the City’s representative made a presentation on a variety of pension-related topics. The presentation summarized a report prepared by the City’s actuary, Retirement Horizons Inc. (RHI), that the City commissioned and that attempts to identify “cost savings” that can be realized through proposed cuts…
Read More »HMEPS Responds to Pension Misinformation
In a recent opinion piece in the Houston Chronicle – “Houston, there is a pension problem” (October 1, 2014) -- Daniel DiSalvo, a fellow at the Manhattan Institute provided inaccurate and misleading information regarding the Houston Municipal Employees Pension System (HMEPS). Public employees did not create the City's financial problems, but HMEPS has worked with…
Read More »HMEPS is Recognized for Fiduciary Excellence
We are pleased to announce the certification of the Houston Municipal Employees Pension System in the CEFEX Investment Steward program. The Centre for Fiduciary Excellence (CEFEX), announced today that it has certified the investment fiduciary practices of the Houston Municipal Employees Pension System as adhering to a global standard of excellence for Investment Stewards. HMEPS…
Read More »DROP Interest Rate is 7.5% for Calendar Year 2015
The Deferred Retirement Option Plan (DROP) interest rate for calendar year 2015 will be 7.5%, effective January 1, 2015. The rate was approved by the HMEPS Board of Trustees at the October 2014 Board meeting. Under the Meet and Confer Agreement, the DROP interest rate for each calendar year is half (50%) of the HMEPS…
Read More »HMEPS Receives Award of Excellence in Financial Reporting for Twentieth Consecutive Year
The Government Finance Officers Association of the United States and Canada (GFOA) has awarded the Houston Municipal Employees Pension System (HMEPS) a Certificate of Achievement for Excellence in Financial Reporting for its 2013 Comprehensive Annual Financial Report (CAFR). This is the twentieth consecutive year that HMEPS has been honored with a Certificate of Achievement by…
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