City recommended plan to Fund Dallas Police and Fire Pension approved

(Special to The Dallas Examiner) – Dallas City Council adopted a plan today that ensures the funding soundness of the Dallas Police and Fire Pension System and protects the pension benefits of all police and fire first-responders – both active and retired. The city’s Plan will fully fund DPFPS within 30 years. The 14-1 vote directs the city manager to submit the City Plan to the State Pension Review Board not later than Nov. 1.Currently, the DPFPS board managed fund is 39% funded and has a $3.2 billion unfunded liability.& Related Stories “When Dallas makes a commitment, we keep it. We have promised to take care of both our active first responders and our retirees, and we will keep that promise,” Mayor Eric L. Johnson said. “Today, we approved a plan to fully fund the Dallas Police and Fire Pension System that honors the men and women who have dedicated themselves to keeping our city safe. Public safety is and always will be my number one priority.”During the preparation of the proposed FY 2024-25 budget, Interim City Manager Kimberly Bizor Tolbert and her team made deep cuts to close a $38+ million city operating budget shortfall while allocating the funds...