- Tax revenue from building boom helps with bigger payments
- Officials still look to cut costs, mull sale of public land
Dallas is part of America’s fastest-growing metropolitan area, a burgeoning powerhouse for finance jobs that’s in the midst of a construction boom.
And yet, as flush as it appears to be, the city of 1.3 million still faces some hard choices as it grapples with how to tackle roughly $19 billion in projected pension payments over the next 30 years, including shoring up a police and fire retirement system that ranks among the nation’s worst-funded.
It’s a dilemma almost two decades in the making that’s coming to a head now because of a state mandate to adopt and submit a plan by Nov. 1 to plug the funding gap in the first responders’ pension within 30 years.
Bloomberg Markets
By Erin Hudson
October 17, 2024