Core Points - Nearly 300 Houston city workers who took early retirement have not received pension payments, causing financial concerns [1][2] - The City of Houston offered early retirement buyouts to about 3,000 workers due to a projected budget shortfall, with around 1,000 accepting the offer [3] - The Houston Municipal Employees Pension System (HMEPS) is experiencing a higher than usual caseload, which has contributed to the delays in payments [4] Summary by Sections Pension Payment Delays - Nearly 300 former city employees are facing delays in receiving pension payments, which were expected within 30 to 60 days after retirement [1][2] - The HMEPS board chair indicated that timing and incorrect paperwork from some retirees contributed to the delays [4] Early Retirement Buyout Program - The City of Houston initiated an early retirement buyout program as a cost-saving measure amid a budget shortfall, with approximately 1,000 employees accepting the offer in April [3] - The pension plan involved is a defined benefit plan, which is becoming less common compared to defined contribution plans [5] HMEPS Operations - HMEPS typically processes an average of 39 retirements per month, but the recent influx has created a backlog [4] - Additional staff have been hired to address the payment issues, with expectations that payments will be made by the end of September [4]

Group 1 - LifeSight has been appointed by Emerson as its full master trust provider, covering all active, deferred, and drawdown members [1][2] - The partnership began with LifeSight providing Drawdown solutions in 2020, and the full transition was completed by April 2025, with LifeSight going live for Emerson members on February 1, 2025 [2] - The addition of Emerson's membership increases LifeSight's total to 430,000 members and over £24 billion in assets under management [4] Group 2 - Emerson emphasized the importance of technology and member engagement, with LifeSight's mobile app significantly enhancing member interaction with retirement savings [3] - Phil Lamb, Pensions Manager at Emerson, highlighted LifeSight's investment strategy, member communication, and technology as key factors in their selection process [4] - LifeSight offers a comprehensive solution for defined contribution pension schemes, addressing the complexities and costs faced by employers [6][7]