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Dallas Police and Fire Pension System Board Adopts Required Funding Plan and Authorizes Declaratory Judgement Action

DALLAS – The Dallas Police and Fire Pension System (DPFP) Board of Trustees today authorized an action in state court to clarify the process by which DPFP is legally obligated to adopt a plan by November 1, 2024 that meets statutory funding and amortization requirements and confirm that the actions taken by the DPFP Board are sufficient to enact such a plan. Specifically, DPFP seeks to clarify what steps are legally required in the future in to ensure that DPFP is adequately funded so that constitutionally protected benefits that have been earned by retirees and current employees are assured of being paid without concern by these first responders.

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Response to Media Statements

Given recent articles and public statements, DPFP feels the need to correct certain inaccuracies. In 2017, because of liquidity and solvency problems and following extensive negotiations between DPFP and the City of Dallas, the Legislature unanimously adopted HB 3158. HB 3158 provided for a reconstitution of the DPFP Board and a seven-year period of time to allow DPFP the ability to stabilize its investments and benefit operations. HB 3158 also contained a provision requiring that the DPFP Board adopt changes to the DPFP plan by November 1, 2024 in advance of the 2025 legislative session to achieve statutory funding requirements. The Legislature adopted the provisions in HB 3158 in the hopes that the City of Dallas and DPFP could agree on plan changes understanding that if the two groups could not reach an agreement before the 2025 legislative session, the DPFP Board would adopt the required plan changes and the Legislature would very likely step in and once again make changes to the DPFP statute.

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Beneficiary Information

DPFP has been informed that there is a rumor that something has happened that impacted the active and retired members beneficiary forms on file with DPFP. That is absolutely not true. All beneficiary forms we had on file are still on file. However, active members hired more than a few years ago were not asked to fill out a beneficiary form for the pension when they joined the department. Completing the form is now a standard part of the rookie class. We encourage all members to ensure there is an up-to-date beneficiary form on file with DPFP.

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