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-- An attorney subscriber
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Search the News Archive
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67 Matching News Items |
| 1. |
Houston Chronicle
Mar. 3, 2004
Excerpt: The official in charge of negotiating changes in the city's pensions under Mayor Lee Brown nearly tripled his own retirement benefit through changes approved during Brown's six years in office.
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| 2. |
Houston Chronicle
Mar. 1, 2004
Excerpt: The city of Houston's main pension program has a billion-dollar funding shortfall because benefits have been boosted so high that many employees will earn more in retirement than they received while working, according to a report obtained by the [Houston] Chronicle. A few will retire as millionaires.
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| 3. |
Houston Chronicle
Mar. 8, 2004
Excerpt: If former Mayor Lee Brown has anything to say about the massive pension shortfall that happened because of policies adopted on his watch, he's not sharing it with the Houston Chronicle.
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| 4. |
Houston City Controller Annise D. Parker in the Houston Chronicle
May 10, 2004
Excerpt: What do we need to do? Bring the following to the negotiating table ... Add an independent voice to the pension board.... Restore Houston City Council's appointments to the pension board.... Change the amortization period.... Tie annual cost-of-living adjustments to inflation ... Adjust the rate of accrual on deferred retirement accounts to reflect market conditions.... [discuss raising] employee payroll contributions [and other proposals].
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| 5. |
Houston Chronicle
July 8, 2004
Excerpt: Mayor Bill White's administration, the Houston Police Officers' Pension System and city taxpayers have a serious problem: The pension system's future liabilities exceed its projected income and contributions by $800 million. Unfortunately for the city and the public, the pension system board has filed a lawsuit to make city taxpayers pay the system $53 million this fiscal year.
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| 6. |
Houston Chronicle
Aug. 4, 2004
Excerpt: The city has asked a judge to throw out a lawsuit that accuses it of underfunding the Houston Police Officers Pension System fund by $40 million this year. The pension system, which filed the lawsuit in June, is asking state District Judge Lamar McCorkle to order the city to contribute $53.8 million to the pension instead of the $13.6 million allocated in this year's budget.
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| 7. |
Houston Chronicle
Mar. 8, 2004
Excerpt: The Houston municipal pension fund's staff did not release a devastating report on the fund's financial status until two days before a statewide vote on a constitutional amendment that banned the lowering of benefits for retirees. The Towers Perrin report on the fund's health using July 2002 numbers was not handed to the pension's board, which includes two senior city officials, until Sept. 11, 2003.
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| 8. |
The Houston Chronicle
May 18, 2012
"The Legislature created Houston's firefighters pension system and gives it the authority to unilaterally establish what taxpayers owe the system each year. Fund representatives are not even obligated to meet with city officials to discuss possible changes to the system."
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| 9. |
The Houston Chronicle
Oct. 2, 2003
Excerpt: U.S. District Judge Melinda Harmon late Tuesday dismissed from the employee lawsuit most of the banks, the prominent Houston law firm Vinson & Elkins, the outside directors of Enron's board, former Enron CEO Jeff Skilling, former Chief Financial Officer Andrew Fastow, ex-official Michael Kopper and others, according to attorneys working on the case who reviewed the judge's order.
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| 10. |
The Houston Chronicle
Jan. 5, 2011
"From my study of the issue I have concluded, as have many others, that the current system is unsustainable and will result in very serious consequences for everyone involved if corrective action is not taken. There is also a profound intergenerational ethical issue at stake as well, as we have been pushing off the day of reckoning on these plans, leaving our children and grandchildren to face a staggering liability."
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