Deteriorating public finances in many public cities are creating headaches for some of the country’s largest police departments. The City of Dallas, as we’ve pointed out time and time again, is in a particularly difficult position.
The Dallas Police & Fire Pension (DPFP), which covers nearly 10,000 police and firefighters, is on the verge of collapse as its board and the city struggle to pitch benefit cuts to save the plan from complete failure.
The implosion of the fund left active-duty Dallas police and firemen wondering whether that pension check they had been counting on to fund their retirement was about disappear for good. All of which sparked a mass exodus of Dallas police and firefighters eager to lock in their payout rates before they were slashed by the DPFP board. A record 72 officers decided to quit the force in July, despite a plan wending its way through the Texas state legislature that would help ‘save’ the pension fund.
This post was published at Zero Hedge on Dec 17, 2017.
Follow on Twitter
Recent Comments