The Meat and Potatoes. Tentative Deal. Houston Pensions. + The Right's Opinion.

The meat & potatoes. The nuts & bolts. The horse, still waiting on the spurs, of the tentative pension deal reached in Houston:

• The goals of the deal:
  • eliminate under-funding within 30 years
  • avoid $2.5+ billion in future costs
  • benefit reductions
  • $1+ billion in bonds
• What Houston gets:
  • cap on pension liability
  • realistic investment returns
• What needs to happen to bring this deal to fruition:
  • each of the local pension boards need to agree on benefit reductions
  • approval by each fund’s board
  • legislative approval

Texas Public Policy Foundation response: Houstonians still have no say.

Houston Chronicle | Turner unveils tentative pension reform deal

KPRC | Mayor aims to fully fund Houston’s pension plan within 30 years

TPPF