The Texas Public Policy Foundation’s Center for Local Governance Director James Quintero issued the following statement on the Dallas Police and Fire Pension System's Board of Trustees suspending lump-sum withdrawals from the fund until further notice. The Board's actions were taken in response to a severe fiscal crisis enveloping the DPFP system.James Quintero is Director of the Center for Local Governance and Think Local Liberty project at the Texas Public Policy Foundation.
"The public pension crisis unfolding in Dallas is an absolute tragedy for everyone involved,” said Quintero. “Dallas-area taxpayers face astronomical tax increases and service reductions while current and future retirees deal with retirement insecurity of epic proportions. This crisis offers a stark reminder of the unsustainability of the defined benefit model and the desperate need for something better."
For more information or to request an interview with Mr. Quintero please contact Caroline Espinosa at email@example.com or 512-472-2700.
James Quintero is Director of the Center for Local Governance and Think Local Liberty project at the Texas Public Policy Foundation.
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The Texas Public Policy Foundation is a non-profit, free-market research institute based in Austin, Texas.