DALLAS (AP) – Still recovering from the July sniper attack that left five law enforcement officers dead, the Dallas Police Department is facing a new crisis as its pension fund approaches insolvency and scores of officers, including Chief David Brown, announce unexpected retirements.
Problems with the Dallas Police and Fire Pension system have been simmering for years. Risky real estate investments and over promises as part of a deferred retirement program have left the pension program only 45 percent funded.
In recent weeks, the pension crisis has boiled up again, leading to retirements and retirees pulling deferred retirement funds out of the system because of fears about its viability.
System administrators have pleaded for calm, promising to address some concerns at a special meeting Monday.
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