I have been sounding the alarm about the long term effects of the City's pension system for nearly a decade now. After many years of being ignored I am greatly encouraged by the attention the issue is now getting. However, some of the ideas being proposed are unworkable, politically naïve, and are not true reforms. The only true pension reform is a plan that eventually moves new city employees -- hired after a date in the future -- from defined benefit pensions to defined contribution plans. Anything less is simply another scheme to kick this can down the road for a few more years.
A distinguished committee of leading Houstonians have endorsed businessman Bill King for mayor, and are working to ensure the success of a major fundraiser at the home of Kay and Ned Holmes on October 6th. The many accomplished Houstonians joining the Bill King for Mayor team include real estate businessmen Dick Weekley and Larry Levine; bankers Walter Johnson, Lori Vetters and Jerry Finger; business leaders Walt Mischer and Tony Grijalva; and attorneys Daryl Bristow, Pat Oxford and Scott Rozzell.