Tag Archives: pension fund

Another item for the city’s legislative wish list

Posted on February 9, 2012 by Charles Kuffner

Loren Steffy brings up a familiar issue that has added salience now as the city tries to deal with its long term finances. Across the city, prime office buildings are selling for far more than their tax values, leaving billions … Continue reading →

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Help me, Long-Range Financial Management Task Force! You’re our only hope!

Posted on February 6, 2012 by Charles Kuffner

Having some Jedi mind tricks available to deal with this probably wouldn’t hurt. About one out of every 11 dollars in this year’s city budget goes to cover pension costs. The $165 million the city plans to send to its … Continue reading →

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City budget outlook

Posted on January 13, 2012 by Charles Kuffner

Last year was a lousy budget year for the city of Houston. This year will be better, if only because it really can’t be much worse, but that doesn’t mean it’s going to be good. Kelly Dowe, the mayor’s finance … Continue reading →

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Thinking long term about the city’s finances

Posted on January 12, 2012 by Charles Kuffner

If you didn’t have to worry about practicality or implementation issues, what ideas would you have about improving the city’s long term financial health? That in a nutshell is the mission of the Long-Range Financial Management Task Force that was … Continue reading →

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Double dippin’

Posted on December 19, 2011 by Charles Kuffner

How do you know when you’re on really shaky ground when trying to justify what appears to anyone with a lick of common sense to be a craven and shameful maneuver in one’s own naked self-interest? Gov. Rick Perry has … Continue reading →

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On targeting public pension plans

Posted on August 31, 2011 by Charles Kuffner

I have three things to say about this. Texas could be gearing up for its own Wisconsin-style grudge match over public employee benefits. A group of high-powered Houston business leaders is starting a statewide campaign to overhaul retirement for future … Continue reading →

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It’s a bird! It’s a plane! It’s SuperCommittee!

Posted on August 21, 2011 by Charles Kuffner

Up, up, and away! A group of 16 elected officials, community leaders, union bosses and pension executives have until Jan. 31 to find ways to tackle the triple threat to the city’s future solvency — ballooning pension obligations, runaway health … Continue reading →

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You may say to yourself “Well, how did I get here?”

Posted on June 7, 2011 by Charles Kuffner

What’s missing from this story? The city of Houston’s budget crisis that has resulted in 747 employees getting pink slips last month and likely will close pools and community centers did not happen overnight. It has been brewing for the … Continue reading →

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San Antonio’s budget situation

Posted on May 11, 2011 by Charles Kuffner

Just for comparison. “Our 2011 numbers still are not where they were in 2008,” [San Antonio] City Manager Sheryl Sculley told the council during a briefing session Wednesday. The projected shortfall in the general fund in the next budget has … Continue reading →

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The State of the City 2011

Posted on April 17, 2011 by Charles Kuffner

It’s getting a little better, but we’re still not close to being in good times. The city of Houston’s budget deficit for the coming fiscal year has been whittled to roughly $80 million from $130 million, Mayor Annise Parker said … Continue reading →

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Mayor seeks pension fund cuts

Posted on March 31, 2011 by Charles Kuffner

Given the size of the budget shortfall for next year and the amount that the city pays into the various pension funds, Mayor Parker’s proposal to pay less should not be a surprise to anyone. City Attorney David Feldman and … Continue reading →

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The pension problem

Posted on December 21, 2010 by Charles Kuffner

I don’t know enough about the particulars of the city’s pension problems to be able to sort out the competing claims made in this story. I do know that the current system is not sustainable, and that the fight to … Continue reading →

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From the “Be careful what you wish for” department

Posted on November 22, 2010 by Charles Kuffner

The state wants to reduce its workforce as part of the cost savings needed to balance the budget. But what it saves now it may pay for later. Ann Fuelberg, executive director of the Employees Retirement System of Texas, warned … Continue reading →

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No check for you!

Posted on November 28, 2009 by Charles Kuffner

Nice little bit of holiday cheer for Texas’ retired public employees this week. Retired public employees discovered yesterday that they would not receive additional $500 checks this year. According to Senator Robert Duncan, R-Lubbock, they shouldn’t hold their breath for … Continue reading →

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Perry meddles again

Posted on October 14, 2009 by Charles Kuffner

All of his shenanigans with the Texas Forensic Science Commission have kept Governor Perry busy lately, but not so busy that he can’t mess with other things, too. Gov. Rick Perry plans to reshuffle the board leadership of the state’s … Continue reading →

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Houston’s budget

Posted on June 2, 2009 by Charles Kuffner

The Chron asks if the city of Houston’s budget is balanced, then answers that question with a “Well, maybe”. Does the city of Houston have a balanced budget? Like so many things in politics, it depends on whom you ask. … Continue reading →

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