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...
by Bill King | Mar 29, 2017 | City Of Houston Finances, Pensions
The centerpiece of Turner’s pension proposal is its “corridor” mechanism which supposedly caps the amount the City will ever be required to contribute to the pension plans. How the cap would actually work in reality is anybody’s guess. ...
by Bill King Policy | Mar 1, 2017 | City Of Houston Finances, Pensions
According to a recent CNN survey, 96% of private sector employees have a defined contribution pension plan. The private sector phased out defined benefit plans over the last several decades because it is impossible to predict what their ultimate cost will be. ...
by Bill King Policy | Jan 24, 2017 | City Of Houston Finances, Pensions
I find it incredible that some elements of the Houston business community are still considering endorsing the pension “reform” plan that has been proposed by Turner. Before getting too far off in the weeds on the details of the plan, let me pose five...
by Bill King | Jan 3, 2017 | City Of Houston Finances, Pensions
It has become standard bill of fare for the City of Houston to hold the release of its annual audit until sometime between Christmas and New Year’s Day, hoping that the awful news normally contained therein will go unnoticed by the local media, which it...
by Bill King | Sep 16, 2016 | City Of Houston Finances, Pensions
Turner’s Pension “Plan”: The Good, the Bad and the Incredible Sylvester Turner announced his pension “plan” last week. I put the word plan in quotes because the outline Turner delivered was so painfully sparse of details it is hard to even describe it as a plan. ...
