The Dallas City Council approved an $11 billion funding plan to fix the city’s Police and Fire Pension System over the next 30 years. The plan includes a 1% stipend for retired police officers and firefighters, although it is currently on hold due to a lawsuit from the pension board, who has their own plan and wants final say.
President of the Dallas Police Retired Officers Association, David Elliston, expressed that the 1% stipend may not be enough for retirees, but it is a start in addressing pension erosion due to inflation. President of the Dallas Police Association, Jaime Castro, stressed the importance of finding a resolution quickly as retirees cannot afford to go without supplements.
Dallas Mayor Eric Johnson emphasized that the city is committed to taking care of its first responders, and the approved plan is a step in the right direction towards fulfilling that promise. The stipend for retirees is on hold pending the resolution of the lawsuit, but has been approved for next year’s budget.
The pension board is set to meet again to discuss the next steps. Mayor Johnson remains dedicated to ensuring public safety is a priority in Dallas. The city remains optimistic that a resolution will be reached to address the funding shortfall for police and firefighters.
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