The top local stories this morning from KERA News: A decision’s expected today in a lawsuit concerning the troubled Dallas Police and Fire Pension fund. Plaintiffs in the suit claim the 12-member pension board operates in violation of State law. The State created the board with seven trustees.
Members of the fund were supposed to vote on making higher contributions and taking cuts in benefits, but this lawsuit has delayed that election. The Police and Fire Pension Fund will be broke within 12 years if changes aren’t made.
Its problems have been blamed on a combination of risky investments over the last decade and benefits more generous than the fund could afford.
Pension Board attorney John Turner says the fund loses about $3 million each month a vote is delayed.
Other stories this morning:
- Legendary CBS news anchor Bob Schieffer was in town this week for events in Dallas and at his alma mater, TCU. After covering 14 presidential campaigns throughout his career, he gave his own autopsy of the 2016 election in ourFriday Conversation.
- Tomorrow’s Children’s Health Holiday Parade will be cancelled due to weather. The National Weather Service is predicting a cold, rainy weekend. They’re also forecasting an arctic cold front to blow through North Texas next week.
You can listen to North Texas stories weekdays at 8:22 a.m. and 6:20 p.m. on KERA 90.1 FM.
