October 15, 2024
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 | J.R. Gonzales, Senior Digital Production Editor |
Photo by: Brett Coomer (Staff photographer)
Today we're talking about a controversial police pension program that might be making a comeback...
It's called DROP: That refers to the Deferred Option Retirement Program. It was an effort to let older Houston Police Department employees keep working past retirement while accruing pension benefits with interest. It was supposed to keep workers from leaving, but instead it left taxpayers on the hook anytime the accounts didn't return at least 5 percent interest per year.
The program was put out to pasture in 2004.
So why are we talking about it 20 years later? Houston Mayor John Whitmire has indicated he wants to restore the program, seven years after the city rolled out a series of pension reforms meant to reduce $8.2 billion in unfunded pension liabilities. Whitmire was in the Texas Legislature when lawmakers passed DROP.
Is this a good idea? Not according to one retired actuary who worked as a pension consultant under multiple Houston mayors. At least not the way it was designed.
"It was originally sold to cities because pension systems had an early age to retire and get full benefits," said Craig Mason. "It said, if you don't retire, you can add the DROP provision to keep them on. But the problem is it did cost the city."
Find out what options the city can take to avoid repeating past mistakes in Matt deGrood's article.
📰 Need to Know
- A VOICE FOR EX-HISD EMPLOYEES: With little data available regarding why employees were quitting their jobs in HISD, a parent decided to do her own digging. Some called this initiative an "exit interview" after an exchange between appointed board members and district leaders brought to light that there is no consistently administered exit interview for employees.
- DEBATE TONIGHT: U.S. Sen. Ted Cruz and his Democratic challenger, U.S. Rep. Colin Allred, are set to meet for their first and only debate in a hard-fought, high-dollar contest that could help decide control of the Senate. Here's what to watch for when the two face off. Also, here's how to watch the debate.
- LAWSUIT FILED: A Houston attorney filed a lawsuit Monday on behalf of three contractors injured in last Thursday's hydrogen sulfide leak at the Deer Park Pemex plant.
- WHO'S CERTIFIED? HISD just launched new software to track staff certified at performing CPR, using automated defibrillators and performing Stop The Bleed techniques, and the district aims to have multiple staff members certified at every campus by Oct. 31.
- NO HELP: As polls show his race tightening, U.S. Sen. Ted Cruz is lashing out at national Republicans for not doing more to help him in his battle against Democrat Colin Allred.
💼 Business
- RATE INCREASE REJECTED: The Texas Department of Insurance has rejected a rate increase proposed by the Texas Windstorm Insurance Association that would have raised premiums on about a quarter-million residential and commercial properties along the coast.
- LIPMAN COLUMN: Can a will be "over-drafted," asks one reader. If so, how can one tell?
🌲 Suburbs
- RISE IN CASES: Galveston County health officials are emphasizing vaccination and education after several cases of whooping cough were confirmed by the county's health district Monday.
- RETURN 'R' US: Like Toys "R" Us, Babies "R" Us is making its return, and it now has three smaller-format shops inside Kohl's stores around Houston.
- MEMORIAL'S MOVE: When the Montgomery County Fallen Firefighters Memorial moves locations in Conroe Tuesday morning, a procession of law-enforcement vehicles and fire trucks will accompany the statue to its new home.
📸️ Photo of the Week
Photo by: Brett Coomer, Staff Photographer
Years of waiting came to an end last week for Elizabeth Ferrari, holding a photo of brother Dennis Tuttle and Rhogena Nicholas. Here, she's outside a courtroom after former Houston police officer Gerald Goines was sentenced to 60 years behind bars for his role in orchestrating the deadly 2019 Harding Street drug raid that killed Tuttle and Nicholas.
📅 Events at the Chronicle
Photo by: Susan Barber
Event: Will the $4.4B Houston ISD bond really help?
Chronicle readers are invited to a private Zoom on Oct. 16 with Houston Chronicle Editorial Board members. They will discuss key issues and races that Houstonians will be voting on this November, including their recommendation regarding the $4.4 billion HISD bond.
☝️ One Last Word
When the weather gets colder (believe me, it will), one's thoughts tend to turn to tropical places to visit.
So leave it up to United Airlines to introduce a nonstop, year-round flight from Bush Intercontinental to sunny Puerto Escondido, Mexico.
I hate to admit this, but I had to look up and see just where Puerto Escondido was. For those with limited knowledge of Mexican geography like me who were curious, it's way down south in Oaxaca on the coast.
Puzzle of the Day: Flipart
Complete the puzzle by finding a configuration where no pieces overlap, and no empty spaces remain.
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