Receive presentation on pension funding policies per state audit requirements

Labor & City WorkersPersonnel

In Plain English

A 2022 state audit found Richmond's retirement funding needs improvement and issued 11 recommendations. The auditor specifically wants the city to create a formal policy for funding its CalPERS pension obligations by June 2023. Richmond hired a consultant to help develop policy options that could reduce long-term pension costs.

Auto-generated summary. Source: official agenda documents.