NEWS ARCHIVE
(News stories that previously appeared on the home page in 2009 or earlier)
City of Dallas Open Enrollment for Retiree Health Insurance Runs Oct. 1 Thru Oct. 30, 2009
(Sept.-Oct, 2009) Open enrollment for City of Dallas retiree health insurance will run through Friday, October 30 (Learn more). For a copy of the 2010 Enrollment Guide, (click here)
Important Information about Your Pharmacy Benefit (For members enrolled in one of the following health plans: 70/30 PPO, EPO, or 75/25 PPO w/ HRA)
(July 2009) Your United Healthcare Pharmacy benefits Program includes a Retail pharmacy and Mail-Order pharmacy option. For more information, click here.
New Tax-withholding Tables Announced
How They Affect You
(April 2009) Was your net benefit payment beginning in March a little larger than normal? The change is a result of new tax withholding tables and not due to a change in your System benefit. Learn more
Legislative Update
The Board of Trustees and staff of the Pension System are doing everything possible to keep the system strong.
One of the methods used is to monitor the legislative process in Austin and Washington, and voice our concerns to our elected representatives when necessary.
The first week of May, we were alerted to legislation in Austin that could have removed local control that a Board of Trustees like ours has over its Pension System.
We mobilized our members through our Web site and various e-mail lists to send e-mails expressing opposition to the bill. We received over 600 e-mails that were then forwarded to key legislators in Austin. We are happy to report that Senate Bill 1548 and its various other forms have died. Thanks to all who assisted us in this effort.
We will keep you posted on legislative issues as they come up.
Board Certifies Results for the 2009 Trustee Election and Special Election
(April 10, 2009) At the April 9 Board meeting, the Board of Trustees certified the results of the 2009 Trustee Election, and a Special Election to fill the remaining term of Fire Trustee Gary Edge. Steve Umlor was re-elected to Police Trustee Place 1 with 75% of the votes cast. Gerald Brown (Fire Trustee Place 1), John Mays (Police Pensioner Trustee), and Richard Wachsman (Fire Pensioner Trustee) were unopposed, so they retained their seats on the Board.
In the special election to fill the unexpired term of Gary Edge (Fire Trustee Place 2), Rick Salinas was elected with 53% of the votes cast. Mr. Salinas began serving his term immediately after the results were certified.
Pension System Invests in Infrastructure --- New LBJ I-635 Project
(Feb 26, 2009) AUSTIN— The Texas Transportation Commission voted Thursday (2/26) to conditionally award the New LBJ project to LBJ Development Partners, positioning the North Texas economy to benefit from the $4 billion transportation project. The Commission's action is another step toward a partnership with LBJ Development Partners to finance, design, construct, operate and maintain the 13-mile LBJ-635 corridor..
The Pension System has joined with the developer to participate in the project through investment. Steve Shaw, Vice Chairman of the Board of Trustees, spoke about the project at the press conference. Click on the links below for more information.
(Download Brochure: The New LBJ)
Financial News
(Feb 18, 2009) Recent news revealed that the federal government has made charges of fraud against Stanford Financial. The System has no investment or other involvement with Stanford International Bank or Stanford Financial.
Letter to the President
(Jan. 2009) The Dallas Police and Fire Pension System has sent a letter to President Obama asking that his administration consider the role that public pension funds can play in the nation's recovery from the current economic crisis. Included in the letter was a discussion of an investment partnership that the System has with the North Tarrant Express Mobility Partners building a major toll road infrastructure project. Recently, representatives from the Pension System were in Washington for a legislative conference, and took this opportunity to share the letter with members of the Texas delegation to Congress. To read the letter, click here.
Market Rate of Return Issue Favorably Resolved
(first appeared Dec. 2008) Some time ago, we advised you of the potential negative effect of a new Internal Revenue Service regulation that could have restricted the System's DROP interest rate. We are now happy to announce that through the efforts of the Board and the national organizations with which we work, Congress has passed and the President has signed a bill (HR 7327) that includes a provision that protects plans like ours from the IRS regulation. The new law accepts interest provisions established by state or local laws or ordinances as meeting the requirements of the IRS regulation. Therefore, the DROP interest provisions currently contained in the Plan will not be affected by the IRS regulation and will stand as is in the Plan.