THIS NOTICE IS BEING POSTED ON BEHALF OF THE CITY OF DALLAS
THIS NOTICE IS BEING POSTED ON BEHALF OF THE CITY OF DALLAS:
Important things to know regarding 2019 Health Insurance Open Enrollment:
The 2019 Open Enrollment period for Retirees started October 15, 2018 and ends October 26, 2018. Depending on your current medical election, you may be required to actively enroll in a medical plan for 2019.
Update to Web Member Services
DPFP is near completion of a major update to the Web Member Services (WMS) portion of our web site. The changes will allow WMS to be more readable on smart phone and tablets. There are a few enhancements, such as showing all active addresses, but the primary change is the presentation format. We anticipate the update going live October 15th.
Update on the annual actuarial valuation and annual audit completion
10/03/2018 Update: The Annual Actuarial Valuations are complete and can be found in the Required Public Information section under the About Us menu item.
Many years ago, DPFP made large investments with two private equity managers. The investments with these two managers are material to the overall financial statements of DPFP. These two managers have not provided the required information to DPFP to complete the actuarial valuation and we cannot complete the annual audit without knowing the value of these investments.
Addressing Current Rumors
Certain people have been circulating misleading information about the funded status of the plan. These people have no new information on which to base their claims. It is true that contributions are less than benefit payments each month. This is not a new issue. This has been discussed many times over the last few years at Board meetings and was widely discussed last year during the legislative process. The difference between contributions and benefit payments has absolutely been included in the funding level calculations every year.
Update on the Degan case
The Court in the Degan case has ruled in favor of the DPFP Board and has granted DPFP’s motion to dismiss the case.
Imporantant Statement Reguarding Your DROP Annuity and DROP Balance
As many of you know, DPFP is beginning the process of annuitizing DROP accounts as required by the provisions of HB 3158.
Contacting the DPFP Office
We are currently experiencing high call volume. When calling our office, please leave a message with your name and phone number and we will return your call as soon as possible.