Update on the Texas Legislature – September 12, 2012 PIFS Meeting
On September 12, 2012 the Texas House of Representatives Pensions, Investments and Financial Services (PIFS) Committee met to discuss several topics, including pensions. At the meeting, we reviewed for the Committee the history and current status of HMEPS, and answered questions from Committee members. Our primary message was that the existing Meet and Confer process works. A key reason it works is that one side cannot control the negotiation or unilaterally make changes. Good faith, arms-length negotiations, including appropriate checks and balances, are the essence of the process.
We were pleased to see that the City of Houston, in its written comments submitted to the Committee, agrees that the Meet and Confer process has been successful with HMEPS. Because of the City’s ability to negotiate with HMEPS under the State meet and confer law, the City, according to its statement, “has been able to make substantial progress in providing sustainable, secure retirement plans for…municipal employees.” (Click here for City of Houston “Rationale for Local Control of Pensions” document.)
Be assured that the responsible and professional trustees and staff at HMEPS are the sole fiduciaries of the system, and that we will remain vigilant in providing a secure retirement benefit for all our participants.
Sherry Mose
Chairman, HMEPS Board of Trustees