Nearly 300 Houston city retirees await delayed pension payments since May: report | Fox Business

FOX Business’ Gerri Willis reports on an increase in older Americans renting on 'Varney & Co.' Nearly 300 retired city employeesin a Democrat-led cityare reportedly still waiting to receive their pension payments, months after accepting early retirement packages as part of a cost-cutting initiative. At a city council meeting Wednesday,Houston Mayor John Whitmirepushed back against criticism that the Houston Municipal Employees Pension System (HMEPS) failed to issue payments, stressing he has no authority over the fund, according to local news outletKHOU 11 News. "I have no control over the pension fund," Whitmire said. "We’ve explained that repeatedly, provided the data to our daily paper, but that’s not what they want to write, and neither does one of my critics want to show the facts." AMERICANS FACE VASTLY DIFFERENT RETIREMENT COSTS ACROSS STATES AS SOCIAL SECURITY CUTS LOOM Houston Mayor John Whitmire speaks at the Houston Hispanic Chamber Of Commerce Annual Luncheon & Business Expo at Hilton Americas-Houston April 12, 2024, in Houston, Texas.(Bob Levey/Getty Images for Houston Hispanic Chamber of Commerce / Getty Images) More than 1,000 city employees accepted early retirement packages in May to help trim city spending. That number far outpaces HMEPS' usual average of39 retirementsper month, board Chair Sherry Mose told KHOU 11 News. SEVERAL STATE OFFICIALS DEMAND FEDS PROTECT AMERICANS' RETIREMENT PLANS BY CLEARLY REGULATING ESG INVESTMENTS Retirees were originally told it would take about 30 to 60 days to receive their pension payments, but that timeline has not been met, accordingto ABC13. "I strongly regret retiring," Kathy Caldwell, a retired City of Houston employee who has become increasingly anxious amid mounting bills, told ABC13. "I strongly regret it, and I'm sorry, I'm getting ready to cry. I don't want to, but it's a lot. It's a lot. It's a lot. I need help. I need my money." A view of the downtown Houston skyline Sept. 8, 2025.(Ronaldo Schemidt/AFP via Getty Images / Getty Images) Alloutstanding paymentsare expected to be issued by the end of September, according to Mose. She explained that delays have stemmed from timing issues, as well as errors in the paperwork submitted by some retirees, including missing documents like birth certificates and marriage licenses, KHOU 11 News reported. RETIREMENT PLANNING: THE DIFFERENCES BETWEEN A TRADITIONAL AND ROTH IRA To address the issue, HMEPS has broughton additional staff, and staff has been working overtime, Mose told KHOU 11 News, noting that her office has received more than 13,000 calls regarding the missing payments. A close-up of a senior man's hand calculating bills at home.(iStock / iStock) "My board members, everyone’s been working on this. It’s not being placed on the back burner," Mose said. HMEPS is a government-run defined benefit pension plan that offers disability, retirement and survivor benefits to City of Houston employees and HMEPS staff. It serves more than 25,000 people, according to its website. GET FOX BUSINESS ON THE GO BY CLICKING HERE Mayor Whitmire and HMEPS did not immediately respond to FOX Business' request for comment.