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Post by avordvet on Oct 20, 2016 4:18:33 GMT -5
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Post by avordvet on Jan 7, 2017 8:29:58 GMT -5
Uh Oh, and they thought they could escape into retirement. Remember, the state owns whatever you have and if they want it back after it is given... tough shit citizen, suck it up, its for the good of the masses! Dallas Police and Fire pension members may have to pay back fundsTanya Eiserer, WFAA 6:52 PM. CST January 05, 2017 Bernie Madoff. It's a name now often bandied about when talking about the failing Dallas Police and Fire Pension fund. "The reality of it is that it was a Bernie Madoff type scheme," says Lee Kleinman, a city council member and former pension board trustee. The city has agreed to put in an additional billion dollars over 30 years, but they're proposing a series of bitter pills to make up the rest of the nearly $4 billion shortfall. The bitterest pill: A proposal to take back all of the interest police and firefighters earned on Deferred Option Retirement accounts, or DROP. That would amount to an additional billion dollars saved. The city is calling it an "equity adjustment." Retirees call it an illegal "claw back." www.wfaa.com/news/dallas-police-and-fire-pension-members-may-have-to-pay-back-funds/382652927
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