Thinking about returning to work after retirement? Know the requirements! – Updated March 11, 2022
HMEPS has received inquiries about employees retiring and then returning to work part-time for the City of Houston, or providing their same services for the City of Houston as independent contractors or through third-party contractors.HMEPS requires each retiring member to complete a “Certificate of Separation from Service with City of Houston” form, in which the…
Read More »We’re working to help keep the HMEPS community safe and healthy! – Updated March 7, 2022
The HMEPS Office Is Open for Scheduled In-Person Meetings An in-person meeting with a Benefit Counselor requires an appointment. Document Submission. If you are a participant and you want to submit your completed documents to HMEPS without a scheduled appointment, you can: If you have any questions about submitting your documents, call the HMEPS office…
Read More »Cash Balance Account Interest Rate for Calendar Year 2022
The Group D Cash Balance Account interest rate for calendar year 2022 will be 6.2% (0.24% bi-weekly), effective January 1, 2021. The cash balance interest as of January 1 is a rate equal to half of HMEPS’ net five-year investment return, but not less than 2.5% nor more than 7.5%, and divided by 26. The…
Read More »COLA beginning February 1, 2022
The cost of living adjustment (COLA) will be the maximum 2.0% beginning February 1, 2022. The COLA is equal to half of HMEPS’ net five-year investment return minus 5%, but not less than 0% nor more than 2%. The net five-year investment return on HMEPS’ investments as of the end of fiscal year 2021 is…
Read More »DROP Interest Rate for Calendar Year 2022 – Updated November 18, 2021
The Deferred Retirement Option Plan (DROP) interest rate for calendar year 2022 will be 6.2%, effective January 1, 2022. The DROP interest rate as of January 1 of each year is equal to half of HMEPS’ net five-year investment return, but not less than 2.5% nor more than 7.5%. The HMEPS net five-year investment return…
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