Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Pensions Calpers Ual topic
No spam. Unsubscribe anytime.
Council asks staff for CalPERS unfunded liability update; requests OCFA withdrawal cost clarification
Summary
Council directed staff to prepare an updated report on the city’s CalPERS unfunded actuarial liability (UAL) and asked staff to coordinate with Orange County Fire Authority finance to estimate any city obligations if Stanton were to withdraw; council approved staff follow‑up by consensus.
The Stanton City Council asked staff on Sept. 23 to prepare an updated report on the city’s CalPERS unfunded actuarial liability (UAL) and to request information from the Orange County Fire Authority (OCFA) about potential city obligations if Stanton were to withdraw from OCFA service arrangements.
Mayor Schauber said the council should review the city’s remaining pension liabilities, prior prepayments that reduced UAL and the projected payoff timeline. City staff said CalPERS recently released updated earnings and that the city had last covered UAL information at the May budget workshop. Finance staff indicated they could prepare the city’s CalPERS UAL figures quickly; the portion of the request that addresses OCFA withdrawal obligations would require coordination with OCFA finance and take additional time.
Councilmembers discussed that previous one‑time UAL prepayments saved the city money and that understanding the projected payoff and any OCFA‑related obligations is important for fiduciary planning. Councilmember Warren clarified the request as informational rather than an immediate policy action; council seconded the clarification and voted to move forward with staff preparing the requested information.
Staff agreed to return with the CalPERS UAL update and to contact OCFA finance about potential withdrawal cost and conditions.
