Why Pensions Work, by Steve Waas, CFP®, EA

Saving enough over a career to finance a retirement is a much bigger challenge than most people realize.  This two-page paper discusses the importance of combining both defined benefit and deferred compensation plans in order to succeed.

Strengthening State and Local Government Finances: Lessons for Negotiating Public Pension Plan Reform

This report analyzes how five public pension systems, including HMEPS, managed to significantly improve their financial situations over the last several years.

Comparing Compensation: State-Local Versus Private Sector Workers

This report analyzes the compensation of public and private sector employees and finds that state and local government employees earn less than private sector workers with similar jobs and education.

Analysis of Defined Benefit Plan Efficiency, by William B. Fornia, FSA

This report looks at three Texas pension plans (including HMEPS) to compare the costs of the DB approach with a hypothetical DC approach and finds that a DB plan can provide the same level of retirement income at almost half the cost of a DC plan.

HMEPS Fact Sheets:

Each of these documents provides a brief overview of the given topic.