Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Pension Finance topic
No spam. Unsubscribe anytime.
Board presented Resolution 2604 to transfer $930,008 to Section 115 trust to bolster pension funding
Summary
Staff recommended adopting Resolution 2604 to transfer $930,008 in unrestricted cash to the Section 115 trust as budgeted for 2026 to improve funded status; staff said the transfer would move the district above the minimum thresholds and toward longer-term targets.
Presenter introduced Resolution 2604, which would authorize a one-time transfer of $930,008 of unrestricted cash from the operating fund to the district's Section 115 trust. Presenter said the amount came from the 2026 budget and is intended to maintain the district's minimum funded status and make progress toward fully funding pension liabilities.
"This dollar amount is what was in the 2026 budget, that was approved by the board," Presenter said, explaining the transfer would improve the district's funded position and help move toward a long-term target (staff discussed a near-term goal of about 85% funded when combined with CalPERS holdings). The transcript shows the transfer was recommended for consent; no formal roll-call vote appears in the record provided.
