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Laguna Woods treasurer reports strong cash position; pension plans described as "super funded"
Summary
City treasurer reported $14.35 million in total cash and investments as of Aug. 31 and staff said CalPERS valuations show the city's pension plans are currently "super funded" with no unfunded accrued liability; council received the report and voted to file it.
City Treasurer and city staff told the Laguna Woods City Council on Tuesday that the city—s cash and investment position was strong at the end of August and that recent pension management decisions have left the city—s CalPERS plans "super funded." The council voted unanimously to receive and file the treasurer—s report.
The city treasurer reported total cash and investments as of Aug. 31 at $14,352,111 and said general fund reserves increased to $4,651,600 from $3,753,700. Staff reported special revenue funds and certificates of…
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