Tag: police and fire pensions
Changes impact current retirees, current employees, and current and future taxpayers. At the end of May, the Governor of Texas signed a pension reform bill for the Dallas Police & Fire Pension System (and separate measures for Houston’ three pension plans). This legislation reduces benefits, reforms the Deferred Retirement Option Program (DROP), and raises revenues…
To avoid Dallas’ plight, pension boards should monitor their plans for aberrant behavior. I started to follow the situation in Dallas because the press had begun characterizing the crisis facing the Dallas Police & Fire Pension System as the tip of the iceberg of state and local plans. My view is that it is a…
