Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Supervisors review options to address roughly $129 million in pension liabilities
Summary
Stifel told Yavapai County supervisors the county faces about $45M in PSPRS and nearly $84M in ASRS unfunded liabilities and described trade-offs between using cash, issuing taxable bonds to prepay pensions, or continuing pay-as-you-go funding.
YAVAPAI COUNTY — At the same work study where financing for capital projects was discussed, outside advisors reviewed the county’s unfunded pension liabilities and described options to reduce long-term pension costs.
Grant Hamill of Stifel told supervisors the county participates in the Public Safety Personnel Retirement System (PSPRS) and the Arizona State Retirement System (ASRS) and that those systems’ unfunded actuarial liabilities (UAL) are a moving target. "In the case of PSPRS, [the assumed rate] is 7.2%. ASRS is a little bit lower at 7%," Hamill said,…
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
