Shreveport Police Pension Fund Board says city owes them $1.3M

Published: Nov. 3, 2022 at 4:59 PM CDT
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SHREVEPORT, La. (KSLA) - The Shreveport Police Pension Fund Board is asking the City of Shreveport for $1.3 million. The question is, why?

Secretary of the board, Bill Wilson, says after digging and doing research, the city is required by law to annually compensate the board for pension money owed to retirees. He says after four years, the city now owes them $1.3 million.

“There was so much money we collected since 1980. Those four years, our funds are going down. And when there was some kind of other news release where the controller said funds were missing, we went looked here in January and you can check our Regions Bank report and it had no income in it. We called the actuary over in Dallas-Fort Worth and said, ‘Has there been any money?’ And they said, ‘No, we are aware of that and we went to the city and they had no reply,’” said Wilson.

He says quarterly board members brought up the issue in January and April. They say the city said they didn’t believe they owed any money.

KSLA reached out to the City of Shreveport about the matter. This was their response:

“The information was brought to the Administration’s attention by a resolution from the Police Pension Board in July 2022. It was determined that LA.R.S.11:3712 hasn’t been followed since 2016, because payments ended at that time. The Finance Department is investigating why the payments were stopped 6 years ago and the City Attorney’s Office is determining if the City owes any money. Both departments will continue its investigations and will work with the City Council, so that councilmembers can approve a funding appropriation, if that is deemed necessary.”