DALLAS (WBAP/KLIF) – The Dallas Police and Fire Pension Board has voted to reinstate a judge’s ruling from November that monthly installments from the pension’s DROP account will be allowed, but not lump sum withdrawals.
The decision was met with displeasure among retired officers in attendance, including President of the Dallas Police Retired Officers Association Pete Bailey.
“You failed to take action to present an amendment to the membership that would provide a reasonable and measured response that would prevent us from being in the position we are today,” said Bailey to the Board.
The retired officers against the ruling say it’s unfair that some officers were allowed to take out their pensions, but not others. The pension board says they simply don’t have the money to allow everyone to withdraw in lump sums.
Mayor Mike Rawlings took to YouTube before the meeting to say the lump sum withdrawals should have never been made available in the first place. His message is also available on our website.
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