NEWS ARCHIVES: 2015

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…

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…

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…

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…

TEXPERS Response to Misinformation

HMEPS is sharing with you two important articles regarding public pensions that were released Friday, September 4. The first one, which was published in the Houston Chronicle, is an opinion piece written by state Rep. Dan Flynn, R-Van, who is Chair of the Texas House Pensions Committee. The other is a press release written by…