Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Committee reviews CalPERS modeling; staff to return with finalized actuarial numbers in January
Summary
Committee members heard staff modeling showing an unfunded CalPERS liability falling from about $9.3 million to roughly $7.6 million after recent payments and returns; staff modeled a possible $3.7 million discretionary payment that could save an estimated $3.1 million in interest and will return in January with finalized figures.
Finance staff presented the committee with CalPERS actuarial results and multiple payment scenarios but did not request action on Oct. 30.
Staff reported that before recent adjustments the combined classic and PEPRA plans showed a total unfunded liability of about $9,300,000 and a funded ratio near 75.9 percent. Factoring fiscal-year investment returns and a $2,000,000 payment made last March, staff said the remaining unfunded liability is roughly…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
