Approve agreement with PARS to create combined pension and retiree health trust
In Plain English
Richmond owes $366.9 million in unfunded pension obligations to CalPERS, a debt that has grown by $162 million in 7 years. The city currently pays only minimum required amounts. The proposed trust allows the city to set aside additional funds to earn investment returns and reduce long-term costs.
Auto-generated summary. Source: official agenda documents.
Votes
Approve consent calendar
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