NEWS ARCHIVES: 2018
DROP Interest Rate for Calendar Year 2019 – October 30, 2018
The Deferred Retirement Option Plan (DROP) interest rate for calendar year 2019 will be 4.11%, effective January 1, 2019. The rate was approved by the HMEPS Board of Trustees at the October 2018 Board meeting. The DROP interest rate calculation is set forth in the HMEPS Pension Statute, as amended by SB 2190 in the…
Read More »2018 HMEPS Trustee Election Results – August 31, 2018
We would like to congratulate Sherry Mose, Roy W. Sanchez and Roderick J. Newman on their re-election to the Board of Trustees. In the 2018 Trustee Election conducted under the independent administration of Election-America, Inc. and certified by the Board at the August 23, 2018 Board meeting, Roy W. Sanchez was elected as the employee…
Read More »News Update – July 30, 2018
This is a reminder that the final phase-in of statutory contribution rate changes for Group A and Group B members takes effect on August 3, 2018. See below for more information: The contribution rate changes were part of the 2017 amendments to the HMEPS pension plan enacted by the Texas Legislature, as summarized in the…
Read More »News Update – January 31, 2018
Group D 1% Contribution to Cash Balance Account begins with February 2, 2018 pay date. The 2017 Texas Legislature enacted legislation that included contribution and benefit changes for HMEPS participants. One of these changes is the introduction of a cash balance hybrid component for Group D members. As explained in the June 2017 HMEPS Pension…
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