Search found 1 match

Return to “Dallas PD and FD Pension Fund.....”

by The Annoyed Man
Fri Mar 16, 2018 5:50 pm
Forum: Off-Topic
Topic: Dallas PD and FD Pension Fund.....
Replies: 13
Views: 2489

Dallas PD and FD Pension Fund.....

I was just watching a news story about the pension fund for the Dallas police and fire departments decision to cut off access by retirees to their retirement funds. The retirees protesting the decision are upset because the lost to ability to draw from those funds to pay for things like their children’s college educations, home improvements, etc. On the other side of the issue, the fund managers say they have to cut off that kind of access so that they can ensure that everyone who is vested is able to draw their regular pension payments.

I am 100% ignorant about what led up to this situation, and I was hoping that those who are familiar with it could explain the background to me. How did the fund get so threatened that they had to take this kind of action? Was it underfunded to begin with? Was it just poorly managed? Were the affected retirees using it like a bottomless piggy bank?

What’s the background here?

Return to “Dallas PD and FD Pension Fund.....”