A new information hub for the Employees’ Retirement Fund and the Dallas Police and Fire Pension System has been launched by the City of Dallas.
According to the City’s website, the launch is part of its ongoing “effort to enhance transparency and communication.”
As previously reported by The Dallas Express, the Employees’ Retirement Fund (ERF) covers pensions for over 16,800 non-uniform City employees. In October 2023, the fund held over $4 billion in assets.
The pension programs have come under scrutiny in the past. Last year, an independent actuary told the City that the Dallas Police and Fire Pension System (DPFP) has $3.5 billion in unfunded liabilities. As a result, the City is expected to spend taxpayer money on 37% of the pension shortfall this year.
The City said the new information hub, which the Ad Hoc Committee on Pensions pitched, is purportedly intended to keep Dallas residents informed about the state of the pension systems. The new platform can be accessed at the City’s official pension website: Dallas.gov/pensions.
Upon visiting the site, users are greeted with a message from Council Member Tennell Atkins (District 8), chair of the Ad Hoc Committee on Pensions. In the message, Atkins assures residents the new information hub will offer “a comprehensive, fiscally responsible solution that addresses the current DPFD and ERF shortfalls.”
As previously reported by The Dallas Express, polling conducted last year found nearly 56% of those surveyed who described themselves as centrists “support more transparency for the City of Dallas.” Roughly 40% of respondents said they wanted more transparency from the City, and 35% claimed they were satisfied.
Users can expect the following features on the website:
- Regular updates around pension decisions made by the committee.
- Insight into planned or current ERF and DPFP funding strategies.
- Target dates for future program goals.
- Pension educational material.
- FAQ section.
