Fort Worth Plans For a Solution to the 1.6B Pension Fund Shortfall, Retirees Fight Back

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FORT WORTH (WBAP/KLIF) – A plan to fix Fort Worth city employees’ pension fund isn’t sitting well with some. Tuesday, several former employees and first responders were on hand as the council talked about a plan that would increase taxpayer and retiree contributions to the fund while slashing cost of living increases. Marsha Anderson with the Coalition of Retired Employees said the city’s pension fund is about $1.6 billion dollars and is projected to run out of money in 25 years. Anderson said the city’s plan would cut cost of living adjustments except for those who’ve worked for the city for at least 25 years and then only on the first $20,300. “We love the city but if they’re going to give raises to those who are still working and deny raises to the retirees, that does open itself up to a court case,” Anderson said. “But we have high hopes in settling the issue without having to take it to court,” she said.  Mayor Betsy Price said she is prepared for any court action. The council is expected to vote on the plan next month.

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