Houston’s Pension Reform Bill Passed In Texas House

HOUSTON, TX — Houston Mayor Sylvester Turner claimed victory for the City of Houston after the Texas House passed the city’s pension reform bill with a 103-43 vote Wednesday.

“This city owes a great deal of gratitude...to all of our employees, both active and retired, and I hope this city will not forget it as we move forward,” Turner said during a press conference Wednesday.

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Last month, Turner issued a dire warning that as many as 2,200 city employees would be be laid off if the legislature failed to pass the pension reform bill.

Read Also: Mayor Warns 2,200 Layoffs Loom For Houston City Employees If Pension Plan Fails

Turner’s pension reform plan is designed to eliminate $8.1 billion in unfunded pension liability within 30 years, reduces benefits avoiding more than $2.5 billion in future costs, and will include the issuance of at least $1 billion in bonds.

The bill has been sent to Gov. Greg Abbott for signature.

Image: Shutterstock

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