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DALLAS – The Dallas City Council’s Ad Hoc Committee on Pensions continues their work to review both the Dallas Police and Fire Pension System and the Employee Retirement Fund and to recommend concrete steps to address the unfunded liability. On Thursday, November 9, the Ad Hoc Committee will receive a preliminary report on the Dallas Police and Fire Pension System from Cheiron, an independent actuary selected by the Texas Pension Review Board. Cheiron will update and finalize their report for the Ad Hoc Committee in February 2024. The committee will continue to consider all options over the next several months before taking a recommended plan to the full City Council for consideration.
“We are committed to working together with all stakeholders to find the best solution that is responsible to our taxpayers and that protects the pension benefits of our first responders,” said City Manager T.C. Broadnax.
City staff along with other stakeholders will continue to work with the Ad Hoc Committee on Pensions throughout Fiscal Year 2024 to consider various funding options before finalizing a recommendation.
Chief Financial Officer Jack Ireland added, “By working together, we will put forward a plan to the Texas Pension Review Board that will ensure the long-term financial soundness of the plan.”
The City’s final plan for the future of the Dallas Police and Fire Pension System will be submitted to the Texas Pension Review Board in Fall 2024.
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