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El Monte to prepay $6.07 million in CalPERS unfunded liability for FY 2026–2027
Summary
Council authorized prepayment of the CalPERS Unfunded Accrued Liability (UAL) portion for FY 2026–2027 at a discounted rate, directing staff to pay $6,067,598 to CalPERS; motion passed 6-0 (Mayor Pro Tem Longoria absent).
The El Monte City Council authorized the City to prepay the Unfunded Accrued Liability (UAL) portion of its CalPERS retirement costs for Fiscal Year 2026–2027 at a discounted lump‑sum rate. The minutes record a total payment amount of $6,067,598 and the Council motion was made by Councilmember Martin Herrera and seconded by Mayor Jessica Ancona; the vote was 6-0 (Mayor Pro Tem Longoria absent).
The action directs staff to make the discounted payment to CalPERS and reflects a budget decision intended to reduce long‑term retirement costs. The agenda item text specifies the dollar figure and instructs staff to proceed with the prepayment; no amendments were recorded in the minutes.
