How the Dallas Pension Fund impacts your business and your clients. And what we’re doing about it
Whether or not you live or do business in Dallas, the $4 billion pension fund crisis has a direct effect on your business. Why? Simply put, the health and reputation of the Dallas economy holds sway over the entire region. When Dallas is doing well, North Texas does well. If Dallas flounders, we all suffer. Citizens in Dallas need to know they can rely on basic services and amenities, such as trash pickup, neighborhood parks, libraries, and drivable streets and alleys. Taxpayers need protection from massive bailouts. Property owners need relief from an increasing tax burden. MetroTex is working with local leaders to advocate for a fair resolution to the crisis through the newly formed coalition, Taxpayers for a Fair Pension.
The coalition has two aims:
· ensure Dallas has a secure and equitable Police and Fire Pension System
· work closely with the Texas Legislature to create a new pension system which is equally answerable to taxpayers and pension fund beneficiaries.
It is important to note that members of the coalition deeply support the police and fire departments in Dallas. At the same time, leaders want to ensure that the momentum of our booming economy is not stalled by concerns over the pension fund. If the crisis is not addressed properly, it will almost certainly have a detrimental impact on the quality of life in the city, and ultimately, in the region. The coalition wants to make sure that the fund is stable for those currently counting on it. It’s important that a viable and healthy pension plan is in place for the future to take care of our public safety employees and to ensure that Dallas can continue to attract and recruit new employees.
We are taking an active role to ensure that Realtors and property owners have advocates in the restructuring process. You can help, too. Follow the coalition on Facebook at @Taxpayers4AFairPension, or get involved at taxpayersforafairpension.org. Contact your state representatives to express your concerns. Find state representative contact information at http://www.fyi.legis.state.tx.us/Home.aspx
Taxpayers for a Fair Pension is comprised of former Dallas mayors and business and civic organizations:
· Former Dallas Mayors Ron Kirk, Laura Miller and Tom Leppert
· MetroTex Association of REALTORS
· Dallas Black Chamber of Commerce
· Dallas Citizens Council
· Dallas Regional Chamber
· Greater Dallas Asian American Chamber of Commerce
· Greater Dallas Hispanic Chamber of Commerce
· North Dallas Chamber of Commerce
· Oak Cliff Chamber of Commerce
· Stemmons Corridor Business Association
· The Real Estate Council