Bad PR and the Promise of Pain Are Nothing If Dallas Doesn't Offer Fix to Pension Fund Crisis

A couple of weeks ago, I attended an event where I ran into a local sports figure of considerable renown. We spoke a bit about the presidential election, then days away, and other related matters. And once we wrapped, I thought, well, perhaps now's the time to slide in one casual question -- fine, maybe two -- about long-ago triumphs that were highlights of my childhood. This gentleman, however, had something else on his mind."Between us," said the icon, "I'm very, very concerned about the police and fire pension fund."Well, that certainly took the air out of the ball. But, yeah, you and me both, brother. Sir. I mean sir. And we're far from alone when it comes to being concerned -- or terrified, which might be a better word even if Mayor Mike Rawlings says that's being a tad too "hyperbolic" -- when it comes to plugging that $3.3-billion-sized hole at the center of the Dallas Police and Fire Pension System, which right now is eyeing insolvency come 2028 (if not sooner).  Continue reading...