Purpose: To present and evaluate options for funding the City's Unfunded Actuarial Liability ("UAL") obligations of the City's two retirement systems (Federated and Police and Fire), including the possibility of issuing Pension Obligation Bonds ("POBs") and provide other preparatory work that will enable the Council to make a fully informed decision about the merits and risks of UAL funding options. Outcome: The City Council, Administration, and stakeholders have a shared understanding of a) why addressing the UAL and its budgetary impact on the City and its two retirement plans is important; b) the risks and benefits of financing options available to address the UAL, and potential to mitigate those risks; and c) the workplan and timeline required for achieving key milestones. - City of San Jose

Meeting: City Council Study Session - Pension Obligation Financing Options

Meeting Time: April 23, 2021 at 9:00am PDT

The online Comment window has expired

Agenda Item

Purpose: To present and evaluate options for funding the City's Unfunded Actuarial Liability ("UAL") obligations of the City's two retirement systems (Federated and Police and Fire), including the possibility of issuing Pension Obligation Bonds ("POBs") and provide other preparatory work that will enable the Council to make a fully informed decision about the merits and risks of UAL funding options. Outcome: The City Council, Administration, and stakeholders have a shared understanding of a) why addressing the UAL and its budgetary impact on the City and its two retirement plans is important; b) the risks and benefits of financing options available to address the UAL, and potential to mitigate those risks; and c) the workplan and timeline required for achieving key milestones.