Pension Information
Pension Plans
In an effort to keep the Citizens of Pacifica aware of issues regarding one on the City's larger expenses. We have developed this page which contains Council presentations, actuarial valuations, and reports from the City financial statements. It is our hope that these documents will facilitate an understanding of this complex topic.
Pension Plan Defined
- An agreement to provide a defined retirement benefit in exchange for services.
- Funded in a trust which is an investment portfolio structured to provide enough funds to pay retiree benefits.
- Benefits are paid from the trust to retired employees on a monthly basis.
- The City contracts with California Public Employees' Retirement System (CalPERS) defined benefit plan for the majority of our employees.
Memos:
- 06-05-2019: Long Term Pension Mitigation Strategies
- 06-28-2019: Long Term Financial Strategies to Address Rising Pension Costs
Presentations:
- 02-24-2020 Agenda Staff Report: 2019-20 Presentation of Pension Costs
- 02-24-2020 Impact of CalPERS Reduction in Discount Rate Presentation
- 11-26-2018 Impact of CalPERS Reduction in Discount Rate Presentation
- Bartel Associates 18-11-26 CalPERS Presentation
Reports:
- 02-24-2020 10 Year Pension Costs
- Long Term Financial Plan 2018-28
- General Fund Pension Forecast 2019-2028
- Bartel Associates 18-09-26 OPEB Actuarial Valuation
- Bartel Associates 18-11-26 Pension Valuation - Summary Report
- Bartel Associates 18-11-26 Pension Valuation - Full Report
- Pension Plan Report from Pacifica 2018 CAFR
- Multi-year Pension Data
