Executive Director of Employees’ Retirement Fund of the City of Dallas Leaving After 20 Years of Service

Cheryl D. Alston, Executive Director of the Employees’ Retirement Fund of the City of Dallas (ERF), has announced she is leaving ERF following 20 years of service.

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Cheryl D. Alston, Executive Director of the Employees’ Retirement Fund of the City of Dallas

“This is the time in my career to take advantage of the many opportunities available in the business and non-profit arena,” said Alston. “I plan to continue my involvement in corporate boards and the public service arena.”

“Cheryl and her team have provided stable, responsible and creative leadership through two recessions and numerous economic challenges over the past twenty years,” said ERF Board Chair T. Dupree Scovell. “Thanks to her leadership the fund has reduced future liabilities by $2.5 billion and is on the path to being fully funded.”

“Our service to former and current city employees has always been a team effort with support from our staff and board of directors,” said Alston. “It is gratifying to know that people who have worked hard to service our community will be able to retire with a secure future.”

“There will be a smooth and seamless transition in leadership,” said Scovell. “The board has appointed David Etheridge as the acting Executive Director. David has served as Deputy Executive Director at ERF since 2010 and has been an integral part of the fund’s success.”

Etheridge coordinated efforts with the ERF Board and Dallas City Council that led to the recent passage of Proposition A, which allowed additional city and employee contributions to the plan to meet state requirements and help put the plan on a firm financial footing for the future. Plan A, which was overwhelmingly approved by Dallas voters, also allowed Dallas the opportunity for a more favorable amortization rate that will save an additional $150 million over 10 years.

“We come to work each day knowing that more than 16,000 former and present city employees and their families depend on us to make sound financial decisions,” said Etheridge. “It will be a privilege to continue to work with our board of directors, the city leaders and our ERF team to meet that responsibility.”

About Cheryl Alston

Alongside her role at the ERF, she has served as an independent director for the Federal Home Loan Bank of Dallas and received a presidential appointment to the Pension Benefit Guarantee Corporation Advisory Committee. She also serves on multiple corporate and non-profit boards. Alston is a graduate of The University of Pennsylvania and holds an MBA from the Leonard N. Stern School of Business at New York University.

About David Etheridge

David joined the City of Dallas as Director of Human Resources in 2005 and has served as Deputy Executive Director of ERF since 2010. He holds an MBA from William Woods University and a BA in Communications from Wilberforce University. In addition Etheridge holds certifications from The Kennedy School: Leadership for the 21^st Century, and the Wharton School of Business: Asset and Portfolio Management I & II.

About the ERF

The $3.8 billion fund provides retirement benefits for more than 16,000 retired and current city employees and is funded by employee and city contributions in lieu of social security. The plan covers all city employees except for Police and Fire, which have their own separate pension plan. ERF has a Conservative Global Investment Portfolio with a 1-year return as of Feb 28, 2025 of 10.6% and an 8.74% return since 1985.

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