UPDATED | May 9, 2017 9:55 PM

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FORT WORTH (CBSDFW.COM) – A conceptual agreement has been reached in the Dallas Police & Fire Pension Fund negotiations.

CBS11 broke the news on Facebook Live Tuesday night during a panel discussion with major players in the City of Dallas.

Dallas City Council Member Jennifer Staubach Gates, Former Dallas Mayor Tom Leppert, Dallas Police Association President Mike Mata, Rob Walters with the Dallas Citizens Council and Sherrie Wilson with the Dallas Retired Firefighter Association.

“We need to put the tourniquet on this and the tourniquet is this pension resolution because as long as I can keep the ones I have from leaving, we can work on getting them over here.”

“We’ve got to hire a lot of different officers for the police and fire departments,” said Leppert.  “They’ve got to have some assurance the pension is going forward as well as competitive salaries in the long-term.”

Facebook Live

No one is 100 percent happy with the deal as no one will get all they want out of it.

Benefits are being cut and pension fund contributions are going up.

But the changes being discussed now will allow for a pension system to remain in place.

“I’m hopeful,” said Gates.  “It’s not a done deal yet.  We have to go back to our council tomorrow and present and lay out what the new options are.”

“I represent a lot of retired firefighters and I’m standing inside a lot of happiness for them, not only for myself, but for them,” said Wilson.

Last week the Texas House unanimously (132-0), passed its bill to save the Dallas Police and Fire Pension Fund.

State Representative Dan Flynn, R-Canton, is chairman of the House Pension Committee.

He led the measure through the House, and after the vote he said this is about helping the ten thousand police officers and firefighters and their families.  

“We’re going to protect them,” said Rep. Flynn.  “We have an obligation to do that I believe.”