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Nov 05

Upcoming study session on pension liabilities

Posted on November 5, 2018 at 5:26 pm by Peter Ibrahim

On July 17, 2018, the San Mateo County Civil Grand Jury (Civil Grand Jury) filed the report “Soaring City Pension Costs – Time for Hard Choices” with Honorable V. Raymond Swope, Judge of the Superior Court of the State of California. The report provides background, analysis, and recommendations on the recent and future increases in pension costs for member agencies of the California Public Employee Retirement System. 

The City’s independent actuary is scheduled to provide an update on the City’s employee unfunded pension liabilities at the City Council meeting November 13, 2018, at 6 p.m. The actuary will update their 2016 report as well as respond to recommendations presented by the 2017-18 San Mateo Civil Grand Jury report on city pension liabilities in San Mateo County. 

The City’s efforts to manage pension liabilities are detailed in its response to the civil grand jury as presented at the City Council meeting September 11, 2018. 

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