HomeMy WebLinkAbout04 - - CalPERS Review Presentation - 2/8/2011CITY OF COSTA MESA
PERS Rates and Unfunded
Pension Liability Review
City Council Study Session
February 8, 2011
Unfunded Pension Liability
Unfunded pension liability is the difference
between the actuarial value of the plan's
assets and the accrued liability.
50
40
30
20
10
0
-10
-20
-30
M.flune30, 20
Current Unfunded Pension Liability
Miscellaneous Fire Police
$39.1m $43.9m $47.8m
Total Unfunded Liability - $130.8 million
As of the October 2010 valuation
3
Historical PERS Unfunded Liability
(in millions)
- MisceOaneous Fire —t Police
z001 2W2 zaPl W04 fIX1s 2W6 2007 2.zaas
4
FY 11-12 PERS Rates
Overall Employee
Rate Pickup
Miscellaneous 27.052% 8.52%
Fire 46.404% 6.00%
Police 43.063% 5.000/0
70.00%
60.00%
60.00%
40.00%
30.00%
20.00%
10.00%
0.00%
Historical and Projected PERS Rates
As a percentage of salary, does not include employee reimbursement
Miscellaneous Fire +Police
FY90- FY000. FYa1- FY02- "03- 1V0& %OZ IWW "07, "Y "7 "I1 "ti- "l1 FY13 Pyla "15 -
on al 02 as as 05 as 07 as 09 to ll 12 13 14 is 16
Prol PmI Pml Prol
6
30,000,000
25,000,000
20.000,000
15.000,000
10,000,000
5,000,000
0
Historical and Projected PERS Payments
Includes employee reimbursement from current contracts only
FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY
99-00 00.01 01-02 02-03 03-04 a4-05 05-06 06-07 07-08 08-09 09-10 10-11 11-12 12-13 13-14 14-15 15-15
Proj Proj Praj Proj
CITY OF COSTA MESA
PERS Rates and Unfunded
Pension Liability Review
City Council Study Session
February 8, 2011
8