Houston's Pension Problem

Many big cities, like Chicago and Dallas, are currently being confronted with the issue of a large amount of pension debt. Houston is also a big city facing a large amount of pension debt. However, I am here to commend the city for doing something to solve the pension problem.

I am proud of Houston that it has taken on the challenge and now has a plan to pay off the pension debt.

Mayor Sylvester Turner has put forward a plan to resolve Houston’s pension debt problem.

Dallas has not been able to put forward a pension debt problem as there is so much disagreement in Dallas about how to handle it.

Houston has approved a pension plan with a 16-1 City Council vote.

The plan would not take any money away from those currently living on Social Security who formerly worked for the city. However, for those who are currently working for the city, there is a cap, at which point their pension payoffs stop. The current pension debt the city has will slowly be paid off over the next 30 years.

I understand that this is not a perfect plan but it is an attempt to solve the problem and I am proud that Houston is willing to tackle a big problem.