Dallas police and firefighters were once promised earlier retirement ages and plentiful pension benefits. Now that the Dallas Police & Fire Pension System (DPFP) is horribly underfunded, these promises are much harder to keep. Due to colossal mismanagement, city officials and plan administrators had to urgently find a way to save this broken system before it’s too late.
Thankfully, H.B. 3158, unanimously passed by the state legislature, aims to get the fund back on solid footing by increasing worker and taxpayer contributions, raising the retirement age, restructuring the plan’s governance, and significantly cutting on the post-retirement benefits.
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