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plural feet play \ˈfēt\ also foot 2 : an invertebrate organ of locomotion or attachment; especially : a ventral muscular surface or process of a mollusc 3 : any of various units of length based on the length of the human foot; especially : a unit equal to 1⁄3 garden and comprising 12 inches plural foot used between a number and a noun plural feet or foot used between a number and an adjective — see weight table 4 : the basic unit of verse meter consisting of any of various fixed combinations or groups of stressed and unstressed or long and short syllables 5 a : motion or power of walking or running : step b : speed, swiftness 6 : something resembling a foot in position or use: as a : the lower end of the leg of a chair or table b 1 : the basal portion of the sporophyte in mosses 2 : a specialized outgrowth by which the embryonic sporophyte especially of many bryophytes absorbs nourishment from the gametophyte c : a piece on a sewing machine that presses the cloth against the feed 7 foot plural chiefly British : infantry 8 : the lower edge as of a sail 9 : the lowest part : bottom 10 a : the end that is lower or opposite the head b : the part as of a stocking that covers the foot 11 foots plural but sing or plural in constr : material deposited especially in ageing or refining : dregs
As much as $260 million had been withdrawn from the system from the start of the year to mid-September, owing to a specific pension benefit called the Deferred Retirement Option Program (DROP) that allows members who have passed their retirement date to continue working after that point and transfer their retirement benefits to a separate DROP account that receives a guaranteed rate of return. Retired cops and firefighters have been redeeming these funds, fearful of what will happen to the struggling pension system. If there is a run on the bank, it will affect our liquidity greatly, says Dallas city council member Jennifer Gates, who joined the DPFP board in June. Generous benefits including the DROP program have contributed to DPFPs problems, as have its investments. The pension plans portfolio contains a number of illiquid, high-risk investments, including a real estate portfolio that currently makes up more than 23 percent of the pensions investments and has much of its assets tied up in direct deals. These investments have contributed to the poor performance, and the overall illiquidity, of the fund in recent years. For the fiscal year ending June 30, the pension plan, which has a funding ratio of 45.1 percent, has a 10-year annualized return of 2 percent, placing it in the 99th percentile among its peers. A proposal currently before the DPFP membership would require the city of Dallas which has been making its pension payments all this time to put in $1.1 billion to fill the pension deficit gap (the city and police and fire employees both contribute to the pension fund). Council member Kingston predicts that will be a no-go for city lawmakers.
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