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Not Just Dallas: Fort Worth Employees’ Pension Plan in Deep Trouble

By Ilene
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Courtesy of Mish.

Dallas isn’t the only city in Texas with a sick retirement fund. Nearby Fort Worth is also in deep trouble.

Let’s dive into the Comprehensive Annual  Financial Report for the Fort Worth Employees’ Retirement Fund  for fiscal years ended September 30, 2015 & 2014 to see what we can find.

Fort Worth Retirement Fund

fort-worth-retirement-plan1

The Fort Worth “City” Pension plan has a liability of $1.271 Billion on assets of only $2.094 billion. The plan is 62% funded and covers 389,528 employees.

The “Staff” plan which covers the people running the pension plan is in better shape. But there is only 1,542 people covered.

For the fiscal year ending September 30, the numbers got much worse.

City Plan Has More Net Liabilities than Assets


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