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…
Read More »News Update – November 8, 2017
On Tuesday, November 7th, City of Houston voters overwhelmingly approved Proposition A, which authorizes the City to issue $1 billion in pension obligation bonds to reduce public employee pension unfunded liability, including $250 million to HMEPS. This election result is the culmination of nearly a year’s work by Mayor Sylvester Turner, HMEPS, the Texas Legislature…
Read More »News Updates – October 26, 2017
DROP Interest Rate for Calendar Year 2018 The Deferred Retirement Option Plan (DROP) interest rate for calendar year 2018 will be 4.52%, effective January 1, 2018. The rate was approved by the HMEPS Board of Trustees at the October 2017 Board meeting. The DROP interest rate calculation is set forth in SB 2190, which was…
Read More »News Update – August 30, 2017
HMEPS Check Update If you are expecting mail delivery of an HMEPS check, please be aware that the US Postal Service is experiencing service disruption due to Hurricane Harvey, and your check may be delayed.
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