The 2017 Comprehensive Annual Financial Report is complete.
The City is extending our Retiree Open Enrollment until November 16th.
Here is what you need to know!
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.
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.
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.
The Court in the Degan case has ruled in favor of the DPFP Board and has granted DPFP’s motion to dismiss the case.
As many of you know, DPFP is beginning the process of annuitizing DROP accounts as required by the provisions of HB 3158.
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.
4100 Harry Hines Boulevard, Ste. 100Dallas, Texas 75219 Office Hours: M-F 8:00 -5:00