Post by Logan on May 3, 2017 20:55:45 GMT -6
Texas Senate passes bill overhauling Houston's troubled pension systems
Texas Senators overwhelmingly passed a bill Monday that aims to overhaul Houston’s troubled pension funds, but not before including a last-minute amendment that could switch future first responders and City Hall employees to a new kind of retirement system.
The Senate passed Senate Bill 2190 in a 25-5 vote. Lt. Gov. Dan Patrick praised the work of the bill's author, State Sen. Joan Huffman. The Houston Republican spent months working with Houston city officials, police officers, firefighters and city employees in an effort to rewrite the statute that governs the city’s severely underfunded pension systems. Her bill was at least loosely based on a plan that Houston Mayor Sylvester Turner worked on with the three employee groups.
"I cannot think of a more challenging bill in my 11 years in the Senate," Patrick said.
But the city’s firefighters opposed the legislation because, they said, it required too many cuts to features of their benefits even though their fund is not in nearly as bad a shape as the police and municipal funds. Huffman said from the Senate floor Monday that she made tweaks in the bill that aims to at least partially appease firefighters.
Read more: www.texastribune.org/2017/05/01/senate-passes-houston-pension-bill-calls-new-retirement-system/
Texas Senators overwhelmingly passed a bill Monday that aims to overhaul Houston’s troubled pension funds, but not before including a last-minute amendment that could switch future first responders and City Hall employees to a new kind of retirement system.
The Senate passed Senate Bill 2190 in a 25-5 vote. Lt. Gov. Dan Patrick praised the work of the bill's author, State Sen. Joan Huffman. The Houston Republican spent months working with Houston city officials, police officers, firefighters and city employees in an effort to rewrite the statute that governs the city’s severely underfunded pension systems. Her bill was at least loosely based on a plan that Houston Mayor Sylvester Turner worked on with the three employee groups.
"I cannot think of a more challenging bill in my 11 years in the Senate," Patrick said.
But the city’s firefighters opposed the legislation because, they said, it required too many cuts to features of their benefits even though their fund is not in nearly as bad a shape as the police and municipal funds. Huffman said from the Senate floor Monday that she made tweaks in the bill that aims to at least partially appease firefighters.
Read more: www.texastribune.org/2017/05/01/senate-passes-houston-pension-bill-calls-new-retirement-system/