Tag Archives: pension fund

Bitcoin and the firefighters’ pension fund

Posted on July 17, 2022 by Charles Kuffner

Okay. When the Houston Firefighters Relief and Retirement Fund bought $25 million in cryptocurrencies, with the fund’s chief investment officer touting their potential, retired fire Capt. Russell Harris was concerned. Harris, 62, has attended the funerals of 34 firefighters killed … Continue reading →

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The Chron on Boykins and Lovell

Posted on October 22, 2019 by Charles Kuffner

Time for more profiles of Mayoral candidates. Here’s the Chron piece on Dwight Boykins. “My goal is to use this position as mayor to let people know that there is hope,” [CM Dwight Boykins] said. “I’m trying to help the … Continue reading →

Posted in Election 2019 | Tagged , , , , , , , , , , , , , , , , | 1 Comment

Appeals court rejects firefighters pension reform lawsuit

Posted on June 23, 2019 by Charles Kuffner

This is not related to Prop B. I know, it’s hard to keep all of this straight. Texas’ 14th Court of Appeals on Thursday sided with the city of Houston in a lawsuit over Mayor Sylvester Turner’s pension reform plan, … Continue reading →

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Turner officially announces his re-election bid

Posted on March 8, 2019 by Charles Kuffner

And he’s off. Mayor Sylvester Turner made it official Wednesday, launching his re-election campaign for Houston’s top elected office. Turner announced the news in a 96-second video that appeared on a revamped campaign website, where the mayor also posted notice … Continue reading →

Posted in Election 2019 | Tagged , , , , , , , , , , | 8 Comments

Oh Lord, it’s Bill King again

Posted on December 15, 2018 by Charles Kuffner

siiiiiiiiiiiiiiiiigh Bill King, a Houston businessman who narrowly lost his bid for mayor in 2015, filed paperwork with the city secretary Wednesday marking his likely intent to challenge Mayor Sylvester Turner again in 2019. King lost to Turner, then a … Continue reading →

Posted in Election 2019 | Tagged , , , , , , | 8 Comments

Pension bond lawsuit dismissed

Posted on July 6, 2018 by Charles Kuffner

This hit my inbox late in the day on July 3. The City of Houston is pleased that a court challenge to the 2017 election on the City’s pension bonds has been decided in its favor. Today, State District Judge … Continue reading →

Posted in Legal matters | Tagged , , , , , , | 1 Comment

Council approves Mayor’s budget

Posted on June 1, 2018 by Charles Kuffner

The annual ritual is observed. Houston City Council adopted Mayor Sylvester Turner’s $4.9 billion budget by a vote of 13-4 Wednesday, ending three hours of otherwise amiable debate with an impassioned speech from Councilman Jack Christie that concluded with the … Continue reading →

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Turner’s 2019 budget

Posted on May 10, 2018 by Charles Kuffner

Here’s the plan for making ends meet for next fiscal year. Mayor Sylvester Turner’s proposed budget for the fiscal year that starts in July would close a shortfall of $114 million without employee layoffs by drawing down the city’s reserves, … Continue reading →

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City reaches settlement in pension projection lawsuit

Posted on March 27, 2018 by Charles Kuffner

Old story, new development. Houston has agreed to settle a lawsuit it filed four years ago against an actuarial firm whose predictions it blamed for contributing to the city’s multi-billion-dollar pension crisis for $40 million. The city’s outside counsel, Susman … Continue reading →

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From the “Grab that cash with both hands and make a stash” files

Posted on March 22, 2018 by Charles Kuffner

Same song, second verse. If budget writers don’t come up with money to address a state employee pension shortfall and mounting needs for public schools, health care and transportation, credit agencies are likely to downgrade Texas’ AAA rating in the … Continue reading →

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Looking to hire more cops for Houston

Posted on February 2, 2018 by Charles Kuffner

We’ll see about this. The head of the Houston police union announced Wednesday that city leaders had pledged to grow the Houston Police Department ranks by 500 officers over the next five years, far fewer than the city’s police chief … Continue reading →

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Houston’s health care costs

Posted on November 28, 2017 by Charles Kuffner

Because dealing with pensions wasn’t enough. Taxpayers also face a $2.1 billion liability for retiree health care costs in the coming decades, and Houston – like many state and local governments – has not set aside a penny to pay … Continue reading →

Posted in Local politics | Tagged , , , , , , | 12 Comments

2017 EV daily report: Day 8, and one more look at a way to guess turnout

Posted on November 1, 2017 by Charles Kuffner

Here are the numbers through Monday. Now that we are in the second week of early voting, when the hours each day are 7 to 7, these reports arrive in my inbox later in the evening. Here are the daily … Continue reading →

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Endorsement watch: The bonds

Posted on October 11, 2017 by Charles Kuffner

Endorsement season has officially begun. The key referendum, Proposition A, is a solution to Houston’s potentially disastrous pension problem. A complex deal ushered through the Texas Legislature by Mayor Sylvester Turner would reduce the $8.2 billion unfunded pension burden now … Continue reading →

Posted in Election 2017 | Tagged , , , , , , , , , , , , , | 2 Comments

More on the firefighters’ pay parity proposal

Posted on July 19, 2017 by Charles Kuffner

Here’s that full Chron story I mentioned yesterday: Houston firefighters delivered over 32,000 signatures to City Hall on Monday in support of asking voters in November to mandate parity in pay between firefighter and police officer ranks, a maneuver that … Continue reading →

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Firefighters’ lawsuit over pension reform law tossed

Posted on July 3, 2017 by Charles Kuffner

There it goes. A state district judge on Friday dismissed Houston firefighters’ lawsuit challenging the constitutionality of the city’s pension reform package, removing a potential barrier to the city’s efforts to solve a 16-year fiscal crisis. State District Judge Patricia … Continue reading →

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Firefighters sue city over contract negotiations

Posted on June 30, 2017 by Charles Kuffner

These are busy days for the HPFFA. Houston’s fire union sued the city Wednesday alleging Mayor Sylvester Turner’s administration failed to act in good faith during contract negotiations, exacerbating tensions between firefighters and City Hall. The lawsuit filed in state … Continue reading →

Posted in Legal matters, Local politics | Tagged , , , , , , , | 5 Comments

Firefighters sue over pension reform law

Posted on June 2, 2017 by Charles Kuffner

I suppose this was inevitable. Houston’s firefighters pension fund has sued Mayor Sylvester Turner and numerous city officials over the pension reform plan Gov. Greg Abbott signed into law Wednesday, putting up another potential hurdle in Houston’s efforts to solve … Continue reading →

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Houston pension reform bill passes

Posted on May 25, 2017 by Charles Kuffner

It’s done. The Texas House on Wednesday approved the controversial Senate version of a bill that aims to overhaul Houston’s failing pension funds — over the passionate objections of current and former firefighters. Senate Bill 2190, which passed in a … Continue reading →

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House and Senate concur on pension bill

Posted on May 23, 2017 by Charles Kuffner

One more vote in each chamber, then it’s on to get a signature. The Legislature is expected to take its final votes on Houston’s pension reform legislation within days after a group of House and Senate lawmakers Sunday night hashed … Continue reading →

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Senate rejects House changes to Houston pension reform bill

Posted on May 12, 2017 by Charles Kuffner

Conference committee, here we come. The Texas Senate on Wednesday refused to concur with House-passed amendments to a reform bill designed to resolve financial problems for Houston’s pension system. Sen. Joan Huffman, a Houston Republican who is the author of … Continue reading →

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House passes pension reform bill

Posted on May 9, 2017 by Charles Kuffner

One step closer, though there are still issues to be worked out. The Texas House gave early approval Monday to a bill that would reform Houston’s three problematic pension funds, which have caused financial woes and spurred political battles for … Continue reading →

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Petitions submitted to force another pension vote

Posted on April 24, 2017 by Charles Kuffner

Oh, good grief. Voters soon could decide whether to close Houston’s traditional pension plans to new employees after political activists submitted a petition to City Hall to force a referendum this November. The petition further complicates Mayor Sylvester Turner’s efforts … Continue reading →

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House hearing for pension bill

Posted on March 29, 2017 by Charles Kuffner

Another step in the process. Houston’s pension reform plan got its first hearing Monday in the state House, where rows and rows of current and retired firefighters appeared to voice opposition to the plan. Municipal and police leaders testified in … Continue reading →

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Pension reform bill passes Senate committee

Posted on March 21, 2017 by Charles Kuffner

A major step forward. Houston’s pension reform plan cleared a state Senate committee in its initial hearing at the Capitol on Monday, despite the fact that all those who testified – including Mayor Sylvester Turner – opposed at least some … Continue reading →

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Is there some fretting about Mayor Turner?

Posted on March 13, 2017 by Charles Kuffner

Maybe? I don’t know. I guess it depends on how you define “fretting”. The resignation of Mayor Sylvester Turner’s top deputy – a social justice advocate and one of the mayor’s few confidants in a sea of senior staff appointed … Continue reading →

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No one ever said pension reform was going to be easy

Posted on March 3, 2017 by Charles Kuffner

The firefighters’ pension fund isn’t happy with the way things are going. The plan to reform the City of Houston’s pension system is running into opposition from the Houston Firefighters’ Relief and Retirement Fund (HFRRF). In a recent letter sent … Continue reading →

Posted in Local politics | Tagged , , , , , , , | 2 Comments

Some dude opposes pension reform

Posted on February 26, 2017 by Charles Kuffner

Presenting this in a slightly redacted form. [Some dude] has joined friend and ally Sen. Paul Bettencourt, R-Houston, in rallying opposition to [Mayor Sylvester] Turner’s [pension reform] proposal among conservatives. He has attended at least three dozen forums on the … Continue reading →

Posted in Local politics, That's our Lege | Tagged , , , , , , , , , | 13 Comments

Interview with Bill Kelly

Posted on February 20, 2017 by Charles Kuffner

You may have heard that the city of Houston has some legislative business to take care of this session. Most notably, the city wants to get a bill passed to implement its pension reform plans, which may or may not … Continue reading →

Posted in Local politics, That's our Lege | Tagged , , , , , , , , , | 1 Comment

We may be voting on pension obligation bonds

Posted on February 18, 2017 by Charles Kuffner

Oh, boy. A state lawmaker carrying Houston’s pension reform bill says her version of the proposal will require a public referendum on a $1 billion cash infusion central to the negotiations, an idea Mayor Sylvester Turner called a “poison pill” … Continue reading →

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Year Two for Mayor Turner

Posted on December 27, 2016 by Charles Kuffner

Year One was busy, but a lot of what was done this year depends on what happens next year. Tasked last year with distinguishing himself from a crowded field of mayoral candidates, Sylvester Turner styled himself as a progressive with … Continue reading →

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HPD retirements

Posted on December 26, 2016 by Charles Kuffner

This is a concern, but I don’t think it’s a big one. A dozen of the Houston Police Department’s top commanders were among 123 officers who filed paperwork this week indicating they plan to retire in the first half of … Continue reading →

Posted in Crime and Punishment | Tagged , , , , , | 3 Comments

Council ratifies Turner’s pension plan

Posted on October 28, 2016 by Charles Kuffner

From the inbox: On a 16-1 vote, Houston City Council has endorsed Mayor Sylvester Turner’s historic package of pension reforms. The vote clears the way for the City to move forward in partnership with the pension systems to seek legislative … Continue reading →

Posted in Local politics | Tagged , , , , , , , , , , , , , , , , , , , | 6 Comments

Pension deal approved by firefighters

Posted on October 26, 2016 by Charles Kuffner

It’s a big deal, though it’s hardly a done deal yet. For the first time ever, the Houston firefighters’ pension board agreed Monday to accept benefit cuts for current workers and retirees, potentially paving the way for a solution to … Continue reading →

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