Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Los Gatos delays decision on roughly $3.1M pension trust transfer pending financial studies
Summary
Council members voted unanimously to postpone a planned decision on transferring about $3.1 million in a Section 115 trust into CalPERS, agreeing to wait for three pending studies — a fiscal condition analysis, a housing-element impact study and an asset-liability management review — with staff aiming to revisit the matter by June.
A Los Gatos Town Council OPEB committee meeting voted unanimously to delay consideration of a staff-backed recommendation to transfer roughly $3.1 million held in a Section 115 trust into the California Public Employees' Retirement System (CalPERS).
A staff member presenting the finance commission’s recommendation said the trust balance is "just shy of $3,100,000" currently invested with CalPERS and that the commission recommended considering an additional payment to CalPERS to reduce the town’s pension…
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
