During the recent Ross Valley Sanitary District meeting on February 14, 2024, officials discussed significant financial developments aimed at ensuring the district's long-term fiscal health. A key focus was on the district's pension funding strategy, which is designed to secure adequate resources for current and future retirees.

The district has been steadily increasing its contributions to the pension trust, with a notable rise from $100,000 in 2021 to $280,000 in 2023. Employee contributions have also played a crucial role, totaling $79,000 last year. This collaborative effort is part of a broader goal to achieve full funding by 2027, which would alleviate future financial burdens on the district.

Currently, the district is making benefit payments for retirees while simultaneously working towards reaching a fully funded status. Projections indicate that the unfunded liability, which stood at approximately $800,000 in 2023, is expected to decrease significantly, potentially reaching zero by 2025. This progress is crucial as it will allow the district to lower its contributions to a more manageable level, estimated at around $90,000 annually.

In addition to pension funding, the meeting touched on the performance of CalPERS, the California Public Employees' Retirement System. For 2023, CalPERS reported an investment return of 6.1%, slightly below its target but an improvement from the previous year. This positive trend is encouraging as it reflects the district's ongoing efforts to secure a stable financial future.

As the Ross Valley Sanitary District continues to navigate these financial strategies, the community can expect more sustainable management of resources, ultimately benefiting both current and future residents. The district remains committed to transparency and fiscal responsibility as it works towards its funding goals.