Opinion analysis and election recommendations from the Dallas Morning News editorial board.
An interior view of Dallas City Hall’s atrium photographed from the seventh floor in downtown Dallas on Dec. 16, 2022.Our first responder ranks will shrink even further if Dallas City Hall fails to treat the police and fire pension as its top priority.that increased city and employee contributions to the pension system to keep it afloat, but it also demanded a plan to fully fund the system in 30 years. The city’s deadline to come up with that plan is late 2024.
City staff members told the council they have reserved $400 million for pension obligation bonds, separate from the $1.1 billion in general obligation bonds. Dallas’ eventual plan to fix the pension may not require the city to take on bond debt, but until the council determines that, it should hold off on committing the city’s debt capacity.The police and fire pension has $3 billion in unfunded liabilities. As things stand today, it will take 68 years to make it solvent.
However, the process to develop a police and fire pension solvency plan is in early stages. An ad hoc council committee on pensions learned during a recent briefing that the study group formed by Mayor Eric Johnson will give its recommendations in December, after receiving fresh and independent actuarial data. This process will almost certainly entail multiple rounds of feedback and deliberation, with a City Council decision expected sometime in the first quarter of 2024.
Dallas needs streets and sidewalks fixed and a whole array of infrastructure gaps addressed. But it can’t say public safety is most important and let police and fire pension considerations take a backseat to a May bond election. It’s a matter of good governance.. Dallas Morning News editorials are written by the paper's Editorial Board and serve as the voice and view of the paper. The board considers a broad range of topics and is overseen by the Editorial Page Editor.
Norge Siste Nytt, Norge Overskrifter
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