Newsicon1 Public Employee Pension Costs to Double In the Next Seven Years

A new study by the League of California Cities shows that "rising pension costs will require cities over the next seven years to nearly double the percentage of their General Fund dollars they pay to CalPERS".  This is analysis is consistent with the forecast for the City of Davis.  The last forecast for the City of Davis is for pension costs to rise from around $10 million this year to $20 million in 2026.  

In related news, CALPERS lost 3.9% last year pushing its funded level down from 71% to 67%.  

League of California Cities® Retirement System Sustainability Study and Findings

Could California pension system be underwater?

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