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Roseville staff brief council on pensions and retiree health liabilities; no action required
Summary
City finance staff updated the council on CalPERS pension liabilities and the city’s OPEB (retiree health) obligations, outlining funding policies, forecasts of rising contributions and the city’s use of a Section 115 pension trust and OPEB trust to smooth future spikes.
City staff provided an informational update on April 2 to the Roseville City Council on long‑term retirement liabilities tied to pensions and other post‑employment benefits (OPEB). No council action was requested; staff said the briefing informs budget development for FY 2025–26.
Dennis Kaufman, assistant city manager and chief financial officer, reviewed the city’s pension exposure under the California Public Employees’ Retirement System (CalPERS). Kaufman reported the total CalPERS unfunded liability reported in the most recent actuarial valuation is approximately $506 million and said the funded ratio improved slightly year over year. Staff noted the Public Employees’ Pension Reform Act (PEPRA) for employees hired on or after Jan. 1, 2013 continues to reduce normal…
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