A former local government worker who performed post-retirement duties for the city of Atascadero is one of five individuals found to have sidestepped California Public Employees’ Retirement System (CalPERS) rules by, under the guise of doing consulting work, having been employed by a municipality while collecting a pension. Read More …
San Luis Obispo City staff is recommending that city officials agree to raise property taxes, promote marijuana businesses, reduce services and increase employee benefit contributions in an attempt to address a $8.9 million budget deficit.
Amid declining interest rates, SLO’s unfunded pension liabilities hit $148 million in June 2016. As pension costs have shot up, so has the city’s budget expenditures. Read More …
When factoring in upcoming changes in the state retirement system as well as a lingering liability on its books, the city of San Luis Obispo is approaching a total of $190 million in unfunded pension liabilities, an amount city leaders consider stable. Read More …
Over the past 15 years, the city of San Luis Obispo’s unfunded pension liabilities have gone from $0 to nearly $150 million and rising. And with SLO’s annual payment to the California Public Employee Retirement System Read More …