Dallas Mayor Mike Rawlings made some changes to the board of the $3.4 billion Dallas Police & Fire Pension System as the pension fund continues to be involved in controversy over its investment in the Museum Tower residential skyscraper. Mr. Rawlings recommended replacing three City Council members on the pension board, which was approved by the council. He said the changes were not directly tied to the pension fund's prolonged dispute with the Nasher Sculpture Center in downtown Dallas over the glare of the Museum Tower (Pensions & Investments, June 24).
“It was time to make sure we have fresh eyes on the pension board from the council,” Mr. Rawlings said. “When you're so close (to the plan), you can't be as fresh. After about six years, you need a change.” Two of the three had served for six years. The three new trustees already have started a new Museum Tower negotiation committee to enter into further discussions with Nasher. “Starting a new group is a great approach,” Mr. Rawlings said.