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District finance staff outline rising PERS costs and planned drawdown of bond-related fund balance
Summary
Finance staff presented projections showing a rise in PERS-related employer costs in 2025–26, the planned use of a bond-related fund balance to smooth debt service impacts, and an anticipated reduction in a PERS rate credit through 2027–28.
District finance staff presented detailed projections of the district’s obligations tied to the Public Employees Retirement System (PERS), showing higher employer costs in the 2025–26 budget and steps the district plans to take to reduce the near-term budget impact.
Jane Noffsiger reviewed three PERS-related cost categories: the unfunded actuarial liability (UAL) payment; the employer pickup percentage; and the district’s bonded portion of PERS debt service from a 2007 PERS bond. She said the combined total the district was…
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