Your DPROA Board met on Wednesday, October 14, 2020 at the DPA to conduct the business of our association. My purpose for this brief is to share with you any information I would have normally shared in a General Membership Meeting. I regret that we are still unable to meet together, but I think it is the right thing to do to protect each and every one of you. To start, let me say “Thank You” to the DPA for their continued willingness to allow us to meet in their facility. Every time I enter, I am reminded of the brotherhood and sisterhood that we share with those who have taken our place on the front lines.
As I have previously reported, the United States Supreme Court has denied our writ of certiorari in the Degan Lawsuit. This means we have exhausted all possible options for stopping the involuntary annuitization of members DROP accounts. I must say that prior to this experience, I would have never believed the DP&FP in concert with the Texas Legislature could pull this off. Even after passage of HB 3158, I was confident the courts would see and correct this injustice. They have not, but we will not stop our efforts to restore our Annual Adjustment and Benefit Supplements through litigation and working through the Texas Legislature. Please stay tuned as we continue our fight.
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In my August brief, I reported to you sending a letter to the United States Attorney for the Northern District of Texas. In that letter I provided documents obtained as a result of discovery from the lawsuit DALLAS POLICE & FIRE PENSION v. TOWNSEND HOLDING LLC. I asked the U S Attorney to review the documents and inquire into the status of the FBI investigation of the Dallas Police & Fire Pension System. We, the fiduciaries of that fund and the Citizens of Dallas, have a right to know that our fund is being managed within the parameters of the law. As of this writing, I have yet to receive a response.
Secretary Ken Seguin has once again agreed to serve as chair of our Election Committee for 2021, and he will be seeking volunteers to serve with him on this committee. We have four board members reaching the end of their terms and unless our incumbents agree to serve another term, we will need to elect a new President, Secretary, Place 1 and 3 Directors. This is a very important time for our association. Please give some thought to serving your fellow retirees.
The Annual Adjustment lawsuit is still on appeal at the Texas Supreme Court, our briefs have been filed and the ball is currently in the Pension Review Board’s court. They requested an extension to file their final brief and it is due November 2, 2020. Hopefully, we get a ruling that will allow us to move forward with taking our depositions. I will keep you informed on any new developments.