Dallas Police & Fire Pension System Statement on Mayors Decision to Drop

Lawsuit Against Pension Board and Comments About Upcoming Board Meeting
February 28, 2017

Mayor Mike Rawlings today dropped his lawsuit against the Dallas Police & Fire Pension System
(DPFP) and also made misleading comments about the DPFP Board meeting on March 9.

The comments by the Mayor and City Council members about possible action to be taken at
the upcoming pension board meeting are more shameless scare tactics, said DPFP Board
Chairman Sam Friar. Late last year, the Mayors words and actions scared retirees into a $500
million run on the pension fund. Now, hes trying to spook legislators about the Boards new
distribution policy adopted on Jan. 12.

Under the policy, the Board must first consider the funds liquidity, debt, needed reserves for
operating expenses, indebtedness, investment-related expenditures and other issues before it
can consider disbursing any funds. The Mayor is trying to use the policy as a negotiating tool in
his continuing quest to take back previously earned pension benefits from dedicated first
responders.

The only news of the day was the Mayors decision to drop his lawsuit against the pension
system. The Mayors legal team apparently was outsmarted and boxed into a corner. As a
result, additional taxpayer dollars likely will be used by City officials in their ongoing litigation
strategy against the pension system board and Dallas police and firefighters.