Economy

Fort Worth confronts potential pension insolvency in 2023

The Fort Worth City Council will look today at ways to fix its ailing pension plan, days after a study suggested that it may be among the most underfunded in the country.

The council will attend a workshop today to discuss recent recommendations made by City Manager Dale Fisseler to change pension and retirement healthcare benefits for new employees.

A study released by the Kellogg School of Management at Northwestern University this week ranks Fort Worth 10th among cities with the shortest timeline before becoming insolvent.

Researchers Joshua Rauh of the Kellogg School and Robert Novy-Marx of the University of Rochester project that Fort Worth's pension will become insolvent by 2023. Philadelphia tops the list with a pension fund expected to reach insolvency by 2015.

Read the complete story at star-telegram.com

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