Dallas Police and Fire Pension Board | KERA News

Dallas Police and Fire Pension Board

LM Otero / Associated Press

After months of negotiations, a deal has been reached on fixing the troubled Dallas Police and Fire Pension Fund.

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Retired Dallas police and firefighters may be able to pull money out of their pension accounts again under a new policy unveiled Thursday. A judge still needs to approve the deal. Those retirees have formed an association to get their voices heard.

Texas Rangers Launch Criminal Probe Into Dallas' Pension Shortfall

Dec 30, 2016
Brandon Formby / Texas Tribune

The Texas Department of Public Safety is investigating whether criminal behavior at least partially contributed to the multi-billion-dollar shortfall facing Dallas' police and fire pension funds.

drriss / Flickr Creative Commons

Dallas Mayor Mike Rawlings says he has spoken with the Texas Department of Public Safety to request a criminal investigation of the past administration of the Dallas Police and Fire Pension Fund.

JIM YOUNG/REUTERS

Issues with the Dallas Police and Fire Pension System came to a head this week. Dallas Mayor Mike Rawlings sued the pension board – as a private citizen – to try to stop pension members from withdrawing money from the fund early.  

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The Dallas Police and Fire Pension Board voted Thursday morning to halt withdrawals from the fund’s Deferred Retirement Option Program, known as DROP.

Museum Tower/Sotheby's International Realty

Members of the Dallas Police and Fire Pension Fund will vote in November whether to reduce their benefits. If the answer is "yes," the chairman of pension fund board calls it only a first step toward saving the troubled retirement system. But commentator Lee Cullum says something has to be done.

The resignation of board trustee Thomas White, a Dallas police officer, comes as questions are being raised about swanky real estate investments making up a disproportionate amount of the pension fund's assets. The controversial Museum Tower in downtown Dallas is among the properties owned by the Dallas Police and Fire Pension System.

Jerome Weeks / KERA

The Dallas Police and Fire Pension Board has hired Hunt Investment Management to vet offers to buy the 42-story luxury condo building the Pension Board owns in the Dallas Arts District.