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Staff reports CalPERS-funded status at 94.9%; combined assets estimated above 100%
Summary
Staff told the committee the city’s modeled CalPERS funded status was 94.9% with an estimated unfunded liability of $2.4 million; when combined with the city’s pension trust and Section 115 assets staff estimated an overall funded status of about 105%. Final CalPERS reports for 06/30/2025 are expected next summer.
At the Oct. 28 meeting the Financial Review Committee received an actuarial-style update based on CalPERS reports through June 30, 2024, and modeled systems using CalPERS' reported investment return for fiscal year 2025.
Staff reported that "when I ran those models, our unfunded…
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