There’s a new Dallas Police and Fire Pension crisis at Dallas City Hall with $3 billion in unfunded liabilities.
“This may be my Alamo. There's no question, but I'm, going to go down fighting,” Rawlings said on the way to one 2017 trip.
“I believe that the funding gap will not be able to be solved in a meaningful way by benefit cuts, employee contribution increases or investment returns,” she said. “It’s just not possible to invest our way out of this. So, my opinion, which is what the bottom paragraph is, any viable solution is going to require a substantial amount of money from the city.”
During this time of steep inflation, cost of living adjustments have been denied for police and fire retirees. At his annual State of the City Address Tuesday, current Dallas Mayor Eric Johnson highlighted crime-fighting success and a strong economy on the rebound.“We have to get this right and we will,” Johnson said. “There’s no question that our first responders deserve to have a secure pension, but it’s also an important recruiting tool. It’s hard to recruit people to join a police department or fire department if the economics of it aren’t strong.
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