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Finance manager: CalPERS UAL $7.5M; funded ratio 85% for Lake Arrowhead CSD
Summary
Finance Manager John O'Brien told the board that about 70% of employees are covered by PEPRA, reducing long-term liabilities; the District's Unfunded Accrued Liability is $7.5 million with an 85% funded ratio, above the CalPERS system average cited in the report.
At the September 23 meeting, Finance Manager John O'Brien delivered the District's annual CalPERS pension update, reporting that roughly 70% of employees are now enrolled in the PEPRA plan, which reduces long-term liabilities. He said Classic Plan obligations remain the largest unfunded liability but are expected to decline with retirements.
O'Brien reported an Unfunded Accrued Liability of $7.5 million and a funded ratio of 85%, which he contrasted with a CalPERS systemwide average of 78%. He also noted that the District previously made lump‑sum payments to lower UAL interest costs and that market volatility remains the principal factor affecting future liabilities. Board members asked follow-up questions; no public comments were recorded on this item.
