Articles Tagged With ‘unfunded pension liability’




CalPERS move leaves SLO with multi-million dollar shortfalls

Following the California Public Employee Retirement System’s (CalPERS) recent decision to lower its investment forecasts, the city of San Luis Obispo is facing skyrocketing pensions costs. As result, also because of slowing tax revenue growth, the city is facing a... (Continue reading)

CalPERS lowers investment forecasts, liabilities to increase

By JOSH FRIEDMAN The California Public Employees Retirement System (CalPERS) has decided to lower its discount rate from 7.5 percent to 7.0 percent, which will cause pension costs to rise for state and local government agencies. CalPERS’s discount rate is... (Continue reading)

Employee costs and pension liabilities accelerating in SLO

By JOSH FRIEDMAN The city of San Luis Obispo’s unfunded pension liabilities have risen to $126 million, more than the rest of the cities in SLO County combined. After the bottom fell out of the housing market, the majority of... (Continue reading)

California has a surplus, but retirement liabilities remain

A few years after California faced a $26 billion deficit, lawmakers are debating how to spend a budget surplus. However, state officials have not tackled California’s unfunded pension liabilities problem, which is continuing to grow. [Contra Costa Times] The state... (Continue reading)

Pismo Beach pays $1 million to reduce pension liability

Pismo Beach City Council voted unanimously on Tuesday to approve a $1 million payment to reduce the city’s unfunded pension liability costs. Currently, the city has an unfunded pension liability of $13.6 million. This includes $6.3 million in the safety... (Continue reading)

Has SLO gotten a grip on its pension problem?

By JOSH FRIEDMAN Ahead of Tuesday’s vote on San Luis Obispo’s half-cent sales tax, state pension reports have emerged indicating that the city’s unfunded liabilities have decreased slightly, but its annual retirement costs will likely rise by several million dollars... (Continue reading)

County pension liability tops $346 million

By DANIEL BLACKBURN San Luis Obispo County employees’ pension plan has a $346 million unfunded liability, a matter of concern to the Grand Jury because of its breathtaking size and the suggestion that officials may have tried to camouflage the... (Continue reading)

Will SLO issue a pension obligation bond?

By JOSH FRIEDMAN Chances are growing that the city of San Luis Obispo will issue a pension obligation bond to gain control of its unfunded retirement plan liabilities, which have soared past $100 million. The city currently has a total... (Continue reading)

SLO pension liabilities skyrocketing

By JOSH FRIEDMAN In a span of ten years, the city of San Luis Obispo has gone from having no pension debt to becoming more than $100 million in the red in its retirement benefit plans. Between fiscal years 2001-2002... (Continue reading)