Pension fund director denies fund will go broke in March

- Pension Fund Director Kelly Gottschalk responded to the claim that the troubled Dallas Police and Fire Pension Fund may not survive the month of March.

Four Dallas city council members on the pension board have sued the board hoping to stop big distributions to retirees next month.

Scott Griggs, one of the council members suing the board, says the fund is selling assets at deep discounts, and more than $200 million is set to be distributed to retirees at the end of next month.

Griggs says if that happens, the fund won't survive past next month. Gottschalk says that's not true.

“The policy specifically says we are not required or forced to liquidate assets to do that. We are not doing that,” she explained. “We are not fire-selling any assets. We are managing our portfolio.”

Gottschalk was attending a scheduling hearing in the lawsuit filed by Dallas Mayor Mike Rawlings that council members joined.

A judge set a trial date in the case for August.

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