DALLAS (CBS11) – With the Dallas Police and Fire Pension System Fund in financial crisis, the Texas Rangers will open up an investigation into the actions of the former pension administration.
In a statement Friday, Rawlings wrote, “The past administration of the Dallas Police & Fire Pension System committed a grave breach of trust with our first responders… As I have learned more in recent years and months about how the DPFP reached its current crisis, I have come to believe the conduct in question may rise to the level of criminal offenses.”
The decision to get the Texas Rangers involved surprised many on the current pension board as well as at Dallas City Hall.
Councilman Philip Kingston was critical of the Mayor’s decision. On Twitter he posted, “FBI’s been on it for a year and not at his request. What’s the point of calling DPS? Slam the barn door extra hard?”
However, others on council expressed support for Rawlings’ decision.
Councilman Mark Clayton said, “I know the Mayor would not have asked them if he didn’t feel that they had a skill set that could help them protect the fund.”
Back in April, the FBI raided an investment firm that is located in the same building as the pension fund system. The investment firm had close ties with the pension.
While no one was named in the Mayor’s statement, Richard Tettamant was the executive director of the pension before being ousted in 2014. CBS11 reached out to him on Friday but has not heard back.
If nothing changes, many estimate the pension fund will run out of money by 2028.
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