Dallas Police & Fire Pensions Turn Toxic
The old saying ‘if it isn’t sustainable it won’t be sustained’ certainly applies here. City, county and state governments have been caving into public employee union demands for decades, providing extravagant wage, pension and benefit plans that are unheard of in the private sector. The chickens have come home to roost in Dallas and before it’s over there’s going to be a shootout at the OK Corral.
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“. . .the Dallas Police and Fire Pension System (DPFP) took the unprecedented step of halting withdrawals from their DROP fund after a “run on the bank” pushed to the entire pension system, and the City of Dallas, to the brink of liquidity crisis.” Read more…
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