Tag Archives: pension fund

Kinder Institute analyzes Mayor Turner’s pension reform plan

Posted on September 25, 2016 by Charles Kuffner

From the inbox: Rice University’s Kinder Institute has done the preliminary math on Mayor Sylvester Turner’s historic pension reform plan and determined the numbers appear to add up if all of the components are implemented as envisioned. The institute is … Continue reading →

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More on the pension deal

Posted on September 16, 2016 by Charles Kuffner

The full version of the Chron story adds a lot of detail. Under the tentative deal, the funds would assume more realistic investment returns – 7 percent rather than 8 percent to 8.5 percent – and would recognize all recent … Continue reading →

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Mayor Turner announces pension fund deal

Posted on September 15, 2016 by Charles Kuffner

From the inbox: Negotiators for the City, the Houston Police Officers’ Pension System, the Houston Firefighters’ Relief and Retirement Fund and the Houston Municipal Employees Pension System have developed Preliminary Points of Understanding on a structural approach to long term, … Continue reading →

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City loses in appeal against firefighters’ pension statute

Posted on September 14, 2016 by Charles Kuffner

Here’s a pension fund-related litigation update for you. Houston can’t overhaul a state-governed firefighter pension system that the mayor claims is pushing the city towards insolvency, a Texas appeals court ruled. Houston sued the Houston Firefighters’ Relief and Retirement Fund … Continue reading →

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What do we want of a Fire Department study?

Posted on August 31, 2016 by Charles Kuffner

Whatever it is, this wasn’t it. A much-anticipated analysis of fire department operations essentially was dead on arrival Friday after it failed to identify cost savings and called for a multitude of investments, including three new fire stations. Mayor Sylvester … Continue reading →

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Pension reform update

Posted on August 18, 2016 by Charles Kuffner

Things are happening. Longtime firefighters pension fund chairman Todd Clark has retired from the department and resigned his post, a move City Hall observers interpret as perhaps the clearest sign yet that Mayor Sylvester Turner’s push for pension reform may … Continue reading →

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No bonds this year

Posted on July 10, 2016 by Charles Kuffner

Maybe next year. Mayor Sylvester Turner likely will not ask voters to approve bonds this November to replace the nearly depleted debt residents approved in 2012, a move that may delay several projects. […] Having addressed a $160 million shortfall … Continue reading →

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Pension progress report

Posted on June 15, 2016 by Charles Kuffner

Our favorite subject, back in the news. Mayor Sylvester Turner and the leaders of the city’s three pension boards made clear to a visiting group of state lawmakers on Monday that they agree a fix to the city’s growing pension … Continue reading →

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Council unanimously passes Turner’s first budget

Posted on May 27, 2016 by Charles Kuffner

Good job. Mayor Sylvester Turner achieved his goal of securing unanimous passage of his first general fund budget Wednesday morning, a month ahead of the typical schedule and after an unusually brief and uncontentious discussion of council members’ proposed changes. … Continue reading →

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So far, so good for Mayor Turner

Posted on May 14, 2016 by Charles Kuffner

That’s the general consensus of his first four-plus months in office. Faced with a $160 million budget shortfall that would leave some wringing their hands until deadline day, Mayor Sylvester Turner presented his plan a month ahead of schedule. The … Continue reading →

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Mayor Turner delivers State of the City 2016

Posted on May 6, 2016 by Charles Kuffner

Here’s the press release. Flooding, pensions, City finances and public safety were front and center as Mayor Sylvester Turner delivered his first State of the City before the Greater Houston Partnership. In a major move designed to produce tangible results … Continue reading →

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Turner announces his budget

Posted on April 17, 2016 by Charles Kuffner

From the inbox: Utilizing a shared sacrifice approach, Mayor Sylvester Turner today unveiled a proposed Fiscal Year 2017 General Fund budget that eliminates a projected $160 million shortfall that was the result of cost increases, voter imposed revenue limitations, a … Continue reading →

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Mayor Turner releases transition team report

Posted on April 9, 2016 by Charles Kuffner

From the inbox, a glimpse of what to expect in the near to medium future from Mayor Turner. Mayor Sylvester Turner has released a 17-page report that details the work of his transition team chaired by businessman and long-time civic … Continue reading →

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Prepping for the city budget

Posted on March 21, 2016 by Charles Kuffner

Mayor Turner gives a brief preview of what is to come. Mayor Sylvester Turner said Friday that he expects to lay off 40 city employees and eliminate 54 vacant positions as he seeks to close a budget shortfall of as … Continue reading →

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Layoffs are coming

Posted on February 19, 2016 by Charles Kuffner

It’s gonna suck, though hopefully not as hard as last time. Mayor Sylvester Turner said Wednesday that a still undetermined number of city employees will be laid off in the coming months, making his first formal acknowledgment that Houston’s projected … Continue reading →

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Chron analysis of how Turner won

Posted on December 15, 2015 by Charles Kuffner

I suppose it’s a bit simplistic to say “he got more votes than the other guy”, but one way or the other that’s what happened. Sylvester Turner’s 24-year quest for the mayor’s office was realized by a narrow margin Saturday … Continue reading →

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Overview of the Controller runoff

Posted on December 3, 2015 by Charles Kuffner

It’s another one of those partisan races. Sorry, non-partisans. Though the job lacks policy-making authority, the race to become Houston’s next chief financial officer has developed into a partisan proxy war over how to correct Houston’s fiscal course. In the … Continue reading →

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Endorsement watch: Going for Turner

Posted on October 12, 2015 by Charles Kuffner

The Chronicle endorses Sylvester Turner for Mayor. Because there is no perfect candidate on the ballot, voters should look for someone who has the talents best suited to fixing the problems that currently threaten Houston’s long-term success: Sylvester Turner. For … Continue reading →

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Finally, some coverage on the pension issue

Posted on October 9, 2015 by Charles Kuffner

I kid, I kid. Like it or not, HERO or not, it’s what this race has been about. The top candidates for Houston mayor are talking far more about the city’s growing cost of retiree benefits than voters are, which … Continue reading →

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Yet another report on pensions

Posted on September 9, 2015 by Charles Kuffner

Yippie. Some city leaders have spent years standing in the town square, hollering themselves hoarse that Houston’s financial footing is unstable, that huge pension costs threaten the city’s future ability to police the streets, pick up trash and maintain parks. … Continue reading →

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Circling back to city finances

Posted on July 6, 2015 by Charles Kuffner

I have three things to say about this. This time, [City Finance Director Kelly] Dowe insists, the $126 million deficit he projects for the budget year that starts next summer is not going to disappear, as past projected shortfalls have. … Continue reading →

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Mayoral candidate forum season is underway

Posted on June 6, 2015 by Charles Kuffner

They talk about the arts. Houston’s mayoral candidates were full of praise for the city’s arts scene Wednesday, when they appeared at a forum together for the first time, though most said they would not support raising taxes or allocating … Continue reading →

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Endorsement watch: Firefighters for Turner

Posted on March 24, 2015 by Charles Kuffner

From the inbox: HOUSTON, March 23, 2015 – State Rep. Sylvester Turner has earned the endorsement of the Houston Professional Fire Fighters Association in this year’s mayoral race, the HPFFA said today. HPFFA President Alvin W. White, Jr. said 84 … Continue reading →

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The Memphis pension cutting experience

Posted on March 23, 2015 by Charles Kuffner

In discussions about Houston’s pension liabilities, the city of Detroit is often trotted out as an analogy and cautionary tale. There’s another city that may be a more accurate comparison, and it’s offering an illustration right now of what might … Continue reading →

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Police officers’ pension fund speaks up

Posted on March 22, 2015 by Charles Kuffner

The firefighters’ pension fund is the one that gets all the attention, but it’s not the only one the city is responsible for. The Houston Police Officers Pension System (HPOPS) has sent a letter to the city reminding it that … Continue reading →

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Council’s pension meeting

Posted on March 15, 2015 by Charles Kuffner

It was about what you’d expect. Many City Council members who attended a special meeting Friday to discuss Mayor Annise Parker’s controversial deal with the city’s firefighters pension called the gathering a success, despite two members walking out and breaking … Continue reading →

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Council meeting called to discuss firefighter pension deal

Posted on March 11, 2015 by Charles Kuffner

Some Council members are determined to discuss the deal Mayor Parker made with the firefighters’ pension fund. Four City Council members have taken advantage of a rarely used provision in city law to call a special meeting Friday to discuss … Continue reading →

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Costello makes his official entry

Posted on March 10, 2015 by Charles Kuffner

That makes him number five of some as yet unknown number to make that announcement. Houston City Councilman Stephen Costello pitched himself Monday as a no-frills, no-nonsense politician who would address the city’s problems like the engineer he is if … Continue reading →

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The pension deal

Posted on March 7, 2015 by Charles Kuffner

Not sure yet how I feel about this. Mayor Annise Parker and Houston’s firefighter pension trustees have reached a deal that would lower the city’s payments for three years, a move that would mark an abrupt reversal for the mayor. … Continue reading →

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King makes his official entry

Posted on March 3, 2015 by Charles Kuffner

Add Bill King to the “made his official announcement” list. In the middle of a noisy, torn-up west Houston street that he said epitomized Houston’s crumbling roads, Bill King launched his campaign for mayor Monday morning, pledging to return the … Continue reading →

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2015 Mayoral manifesto: Public safety

Posted on February 5, 2015 by Charles Kuffner

Preliminaries Transportation When I first started thinking about this series a couple of months ago, this section was all going to be about the budget. We’ve covered this ground before – public safety is about 65% of the total city … Continue reading →

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Appeals court reverses ruling about pension retiree information

Posted on January 30, 2015 by Charles Kuffner

So much for that. A state district court’s 2013 ruling that Houston’s fire pension board must turn over detailed information on its retirees to help city officials better project future pension bills has been overturned on appeal. Justices with the … Continue reading →

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Don’t look for a meet-and-confer bill in the Lege this year

Posted on January 26, 2015 by Charles Kuffner

Buried in this story about the city and the county preparing to play defense during the legislative session is this update on the state of relations between the city and the firefighters. In her first two sessions, Houston Mayor Annise … Continue reading →

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Firefighter pension board makes an offer to the city

Posted on September 26, 2014 by Charles Kuffner

This was unexpected. The trustees of Houston’s firefighter pension, who for years have fought the mere mention of changes to benefits as Houston’s enormous pension burden has continued to grow, now are shopping a compromise proposal. Fire pension leaders say … Continue reading →

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