This year the City of Dallas will contribute $124 million to the the Dallas Police and Fire Pension System - the retirement plan for sworn employees of its police and fire departments. The City contributes 27.5% of total pay - one of the highest rates of contribution in the country. The sworn employees contribute 8.5% of their base salaries.
The City has never missed a payment to the Pension System. However, the Fund made poor investments and approved overly generous features. It's estimated to run out of money by 2027, meaning future retirements are in jeopardy.
The City plans to contribute an additional $1 billion over 30 years, within the budget. This plan will fully fund the Pension without raising taxes but we need your support.