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Pensions: Disaster in Dallas

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That Firefighter Brotherly Love? The Dallas Police and Fire Pension Fund needs a $1.1 billion dollar bailout from the city in order to avoid insolvency as a result of a combination of actions all rooted in fiduciary recklessness over a 23-year period. From a guaranteed 8.5% annual interest rate on DROP accounts to pie-in-the-sky investment […]