News Update – April 28, 2017
Thank you to the many members who recently contacted Representatives on the House Calendars Committee regarding HB 43. For those of you who made the call or sent an email, we were notified that your voices were clearly heard in Austin. Your quick action and efforts are greatly appreciated! Until further notice, we ask that…
Read More »News Update – March 21, 2017
HMEPS Heads to Austin Yesterday, as part of the Texas Legislature’s 85th Regular Session, the State Affairs Committee of the Texas Senate met to consider Senate Bill 2190, authored by committee chairwoman Joan Huffman (R-Houston), which deals with City of Houston employee pensions and would directly affect HMEPS. As you may know, HMEPS has been…
Read More »2% COLA beginning February 1, 2018
The cost of living adjustment (COLA) will be 2% beginning February 1, 2018. The COLA calculation is set forth in SB 2190, which was enacted in the 85th Texas Legislature and amended the HMEPS Pension Statute. Under the amended Statute, the COLA is equal to HMEPS’ five-year investment return, based on a rolling five-year basis…
Read More »News Update – December 21, 2016
HMEPS is continuing to negotiate with Mayor Turner’s administration on mutually agreed pension reforms for proposed enactment by the Texas Legislature in 2017. As part of the negotiations, the proposed benefit reforms have been updated. An overview of the updated proposed benefit reforms is contained in the current issue of the HMEPS Pension Press, which…
Read More »News Update – November 17, 2016
DROP Interest Rate is 2.5% for Calendar Year 2017 The Deferred Retirement Option Plan (DROP) interest rate for calendar year 2017 will be 2.5%, effective January 1, 2017. The rate was approved by the HMEPS Board of Trustees at the November 2016 Board meeting. Several DROP participants have asked how the DROP rate is determined.…
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