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City council approves $2.3 million contribution to pension stabilization trust
Corona City Council · January 8, 2026
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Summary
Finance staff recommended and the council approved a $2.3 million contribution to the City of Corona’s pension stabilization trust to stay on a 10‑year plan to pay off pension obligation bonds; council vote was unanimous, 5–0.
Finance Director Sitton told the council the city’s pension stabilization trust had a market value of about $59.2 million as of November 2025 and that CalPERS’ unfunded accrued liability for the city’s plans was about $97.8 million (SEG 1256–1269). Sitton…
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