DALLAS (WBAP/KLIF) – Dallas Mayor Mike Rawlings has withdrawn his lawsuit against the Dallas Police and Fire Pension System.
Rawlings had sued to stop lump sum withdrawals from the system which, in a statement, he says reduced the fund from $2.7-billion to $2.1-billion.
Now, the mayor says he is withdrawing the lawsuit leaving it in the hands of four city council members who have intervened in the case.
The fund is in danger of being depleted within ten years if nothing is done.
The mayor has said it is up to lawmakers in Austin to fix the problem.
Another idea being floated by one council member would take a small portion of money that goes to DART to help fix the problem. DART is opposed to that idea.
