Pension costs are the second largest line item on county budgets; only salaries are a bigger expense. CalPERS is in the midst of reviewing the discount rate - the target rate of return for investment portfolios - and the factors that go into this momentous decision. At stake are the costs that county employers pay to fund retirement benefits, direct employee contribution increases from paychecks, and the long-term stability of the retirement system itself.
RCRC and CSAC are teaming up to present counties with an update and opportunity to engage in discussion with CalPERS. On this webinar, the CalPERS Deputy Chief Actuary will detail the factors that the Board will be weighing as they evaluate different investment portfolios with different degrees of risk, review life expectancy and inflation estimates, potential impacts on city costs, and how any changes would be phased in.
This is an important and consequential time for CalPERS and for our counties. Join us on September 23, 2021 at 10:00 AM to learn the current state of play and hear about our opportunities for ongoing stakeholder engagement. You must register in advance to attend this webinar. Register today!
Date: Thursday, September 23, 2021
Time: 10:00 AM – 11:30 AM