Committee hears update on CASA pension transfer to CalPERS; actuarial report due in coming months

During the April 25 meeting the committee received an update on the unfunded pension liability for the Coastal Animal Services Authority (CASA), the joint powers authority that runs the regional animal shelter serving San Clemente and Dana Point.

A staff speaker explained CASA employees are currently in a private pension plan and that the entity has been working through steps required to transfer employees into CalPERS. "They're doing an actuarial evaluation on the private plan right now," the staff member said, adding that CalPERS previously had technical barriers but recently allowed the transfer process to proceed.

Staff said Dana Point has set aside a pro rata portion of the estimated liability and plans to pay its portion rather than have the liability carried by CalPERS, which could add interest costs. The committee was told the city began the CalPERS actuary steps about two months earlier and staff "would expect [the actuarial report] in the next couple of months." No formal payment schedule or final liability figure was approved at the meeting.

Context: Staff emphasized that the final financial obligation depends on the actuarial results and the mechanics of the transfer; committee members asked about timing and were told staff will return with the finalized numbers once the actuary completes its work.

Ending: The item was informational; staff will provide final actuarial results when available and return with any recommended actions for council consideration.