The City of Houston and Willis Towers Watson ("WTW") announced today that, subject to City Council's approval, they have settled all litigation related to WTW's work on behalf of the City of Houston's pension funds.The City filed a lawsuit in August 2014 in connection with WTW's work in the late 1990s and early 2000s for the Houston Firefighters' Relief and Retirement Fund. Under the settlement, the City has agreed to dismiss its lawsuit and to release any potential claims based on WTW's work for the Houston Municipal Employees' Pensions System and the Houston Police Officers' Pension System.
WTW has denied any wrongdoing and the parties have agreed that the settlement does not constitute an admission of wrongdoing. The parties have settled the dispute in order to avoid the costs and uncertainty of litigation and to put this dispute behind them.
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