by Bill King | Jan 23, 2019 | City Of Houston Finances, Demographics, Pensions
We now have audits for the City and its three pension plans for the first full year of operation under the pension changes made in 2017. The results clearly show that, other than making a one-time reduction in the pension liability by cutting benefits and...
by Bill King | Sep 27, 2018 | City Of Houston Finances, Flooding, Pensions, Rebuild Houston, Rebuild Houston - Drainage Fee, TIRZ
There is so much misinformation being disseminated at the current round of “town hall” meetings it is hard to keep up with all of it. If you have been subjected to this mendacious onslaught, let me set the record straight on a few issues. There Is/Will Be No...
by Bill King | Sep 27, 2018 | City Of Houston Finances, Pensions
Recently on What’s Your Point and in my blog, I have cited estimates of how much the City cut pensions in the 2016 pension changes. Specifically, I said in my blog last week that the pensions were cut by about $140,000 for fire fighters, $90,000 for police officers...
by Bill King | Jun 9, 2017 | City Of Houston Finances, Pensions
As you have probably seen in media accounts, the Legislature has passed a bill making very substantial changes to the City of Houston’s pension systems. The bill as passed was 260 pages and mind-numbingly complex. When added to the existing statutory...
by Bill King | May 8, 2017 | City Of Houston Finances, Pensions
As you may have heard, the Texas Senate passed a bill yesterday which makes sweeping changes to the City of Houston’s pension systems. I am still reviewing the language of the final bill and will have a summary for you in a day or two, but one very important...
by Bill King Policy | Apr 18, 2017 | City Of Houston Finances, Pensions
In the last few days we have heard more of the same old tired, debunked rhetoric from the Turner administration that the City cannot make the transition to defined contribution plans from the defined benefits plans that have driven it into insolvency. Well, 150 of...
