Dallas Police And Fire Pension Struggling

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DALLAS (CBSDFW.COM) – For months, there's been concern over the financial stability of the Dallas Police and Fire Pension System. Is there confidence left in the pension fund itself? Are employees taking their money and moving it before they lose it?

On Monday, a meeting brought out hundreds of retirees and others to find out if they are still able to access their retirement funds. The primary topic was, will they lose a popular plan that lets them earn high interest on pension money, while they continue working?

For years, police and firefighters could continue to work and yet have monthly pension checks sent to "DROP" accounts (Deferred Retirement Option Program).

Now, the pension fund may need to cancel "DROP" accounts, because of the financial drain on an already struggling system.

Police and firefighters are waiting to see if the Police and Fire Pension Board changes the rules that affect the ability to get their money. "It's surprising a pension system that ran so well and suddenly bottom has fallen out," says Randall Sanders a Dallas firefighter.

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