3 Ways Inaction will be costly to Houston Pensions. City Controller.

City Controller Chris B. Brown lays out the following arguments why inaction on the Houston pension crisis will be costly:

• Until a fix passes the legislature, the liability grows at a rate of $1 million per day
• It is not financially viable to move the pensions from defined benefit plans
• For the first time in its history, Houstonended its fiscal year with a negative statement of net position, largely due to the pension liability. This impacts Houston’s credit ratings.

TRIBTALK | For Houston pension crisis, cost of inaction is high