Last week, The Dallas Morning News reported on a City Council meeting during which members discussed the underfunded Employees’ Retirement Fund (ERF) and the Dallas Police and Fire Pension System, which has its own funding problems.
According to the newspaper, the ERF faces a more than $1 billion shortfall and the police and fire system needs more than $3 billion.
Meanwhile, the city website says the new information hub, “spearheaded by the Ad Hoc Committee on Pensions, is designed to keep Dallas residents, along with pension participants and beneficiaries, fully informed about efforts to address the funding needs of both pension systems.”
The website includes:
- Regular updates on the progress and decisions made by the committee
- Details about the funding strategies and plans being considered or implemented
- Milestone and future goals timeline
- Educational materials for participants and beneficiaries
- Dedicated FAQ section
