Shared Sacrifice and Real Compromise Save the Dallas Police Pension — for Now

Victory has a hundred fathers, the saying goes, so there’s a lot of credit to pass around for the rescue of the Dallas Police and Fire Pension System.After many months of work in Dallas and Austin, a bill to stabilize and reform the pension will soon become law. Last week, leading players from both sides held a news conference to celebrate the final breakthrough, and they deserve congratulations for resolving one of Dallas' top problems.The pension fix shifts oversight power to Dallas, the primary goal for the city. It protects benefits for current and future retirees, and ensures that Dallas will continue to contribute heavily to keep the plan solvent, which were essential commitments to police and firefighters.The deal also will let Dallas leaders move ahead on other needs, including a bond sale and recruiting more police. Maybe this can even become a catalyst to rebuild trust between first responders and City Hall after a bruising public battle.Without this action, the pension was projected to go broke within a decade, threatening the retirement plans of almost 10,000 members and dependents. The potential fallout for Dallas’ budget and reputation could have been devastating, too.  Continue reading...