3 Pieces Informed Intel. Houston Municipal Pension Fund Director Ousted.

Houston’s municipal pension board ousted its fund director. The key intel:

• Houston Municipal Pension Board will have to pay out the director’s contract
• The Houston Municipal Pension is the weakest of Houston’s pensions funds
  • 52% funded for its liabilities
• The replacement- The person responsible for the 2001 legislative reforms to the municipal pension that are alleged to have blown the budget

What does this mean for pension reform in Houston?

• Mayor Turner wants “a deal by the end of the year that will reduce the city’s large and growing pension bill”
• The Municipal pension board is joining  reform talk with the police and firefighter pensions

Houston Chronicle | Houston pension fund’s leader ousted without explanation