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Escalon adopts 10‑year CalPERS pay‑down plan to reduce long‑term pension costs
Summary
Council approved a 10‑year plan to accelerate pay‑down of the city’s CalPERS unfunded liability by targeting an additional $314,000 annually (after an initial lump‑sum payment), which staff said will meaningfully reduce long‑term interest and future employer contribution volatility.
The City Council approved a multi‑year plan to accelerate payment of Escalon’s CalPERS unfunded accrued liability (UAL). Staff proposed a 10‑year plan that includes an additional annual payment of $314,000 alongside prior lump‑sum action; the combination is projected to lower future employer payments…
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