Dallas Police and Fire Pension Backs Cutbacks to Avoid Collapse
- State lawmaker plan would raise retirement age, cut raises
- Dallas would also boost contributions to shore up pension
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The Dallas Police and Fire Pension is getting behind a Texas lawmaker’s plan to save the retirement system from financial collapse.
The fund’s board voted 9-0 on Monday to back a proposal by Dan Flynn, chair of the pensions committee in the state’s House of Representatives, that would raise the retirement age to 58 from 55, eliminate cost-of-living adjustments and lower a multiplier used to determine the size of officers’ and firefighters’ benefit checks, according to a summary on the pension’s website.