Zerohedge is reporting in an article titled,
“Dallas Police Pension On Verge Of Collapse As Record Number Of Cops Seek Full Withdrawals”
that the Dallas Police Pension system is possibly on the brink of failing. As you will read in the article, it seems that the continuing pursuit of alternative investments in order to “beef up” returns has come back to haunt this particular plan, as it has so many.
Regrettably, the plan participants (benefit cuts?) and taxpayers (potentially huge tax bill) will once again suffer as a result of a continuing failure by plan sponsors and their consultants to focus on the correct objective, which is the plan’s liabilities and not the ROA! We have already witnessed the incredible collapse of the traditional DB plan in the private sector. Do we need anymore evidence that the continuing practices are failing these systems?
It is time to wake up to the fact that we are on the cusp of creating social and economic hardship for millions of pensioners. I’ve seen enough! Have you?