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Committee members forwarded a briefing on the Dallas Police and Fire Pension System and potential pension obligation bonds to the full City Council. The presentation said the city and pension system’s joint funding agreement meets the state’s 30-year funding requirement, and model scenarios showed a $500 million bond could save $280 million to $510 million over 25 years in one case, but could also add $88 million in costs in a weaker-return scenario.
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City staff briefed the committee on how Dallas is funding the police and fire pension system and why additional financing options are being considered. The presentation said the current joint funding agreement meets the required 30-year funding target, but it also raised the possibility of issuing pension obligation bonds, which would replace part of the city’s pension payments with debt payments. Officials said that approach could save money only if investment returns on the borrowed funds beat the bond interest rate; if not, it could increase the city’s overall costs. The committee sent the item to the full City Council for further consideration.
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